The Latest Breaking News from Tax Cuts

The pound plunged to a record $1.03 low against the US dollar this morning as international markets continued to reject Kwasi Kwarteng's tax-cutting Mini-Budget

Bank of England says it ‘will not hesitate’ to change interest rate but appears to be trying to squash expectations of an emergency rise

Labour leader dramatically vows to restore 45p income tax for richest - but backs Tory cut to basic rate

Parliamentarians, on base salaries of at least $211,250, will receive average cut of $10,000 in first year according to modelling

Greater Manchester Mayor Andy Burnham contradicted Labour's position on income tax cuts, saying the 1p cut to the basic rate should not go ahead

Kwasi Kwarteng claimed his tax cuts “favour people right across the income scale” amid accusations they mainly help the rich, and he hinted more are on the way. The Chancellor defended his programme of tax cuts – the biggest for 50 years – which he announced on Friday using more…

Kwasi Kwarteng claimed his tax cuts “favour people right across the income scale” amid accusations they mainly help the rich, and hinted more are on the way.

Keir Starmer, leader of Britain's Labour Party, on Sunday pledged to reverse the abolition of the top rate of income tax, saying tax cuts for the wealthy wouldn't create economic growth as he made a pitch for power at his party's annual conference.

Reports chancellor is considering further changes to taxation after mini-budget ‘for the rich’