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The Latest Breaking News from Tax Cuts

Pound hits all-time low as fallout from Kwasi Kwarteng's 'mini-budget' continues

The Chancellor has hinted at more tax cuts to come

Manchester Evening News

Pound hits all-time low against dollar and is now worth just $1.03 after Mini-Budget

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

Daily Mirror

Sterling slides back towards record low as Bank of England and Treasury fail to reassure markets – as it happened

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

The Guardian - UK

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Pound sinks to record low against dollar as Kwasi Kwarteng hints further tax cuts on way

The Chancellor has previously brushed off questions about the markets’ reaction to his mini-budget

Evening Standard

Pound falls to all-time low as Kwasi Kwarteng hints further tax cuts on way

Despite criticism over the abolition of the top rate of tax, Mr Kwarteng insists he is 'focused on tax cuts across the board'

Wales Online

Gary Neville blasts 'immoral' tax cuts for rich ahead of conference speech

The ex-footballer and TV pundit is due to make a star appearance at the Labour party conference on Monday

Liverpool Echo

Gary Neville says Truss is 'taking Mickey out of us' with 'immoral' tax cuts for rich

The former England international accused Liz Truss of “taking the absolute Mickey out of us” by helping the well-off as ordinary families find it difficult to make ends meet

Irish Mirror

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Starmer resisting pressure from inside own party over reversal of tax cuts

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

The Independent UK

Analysis shows federal politicians will pocket more than $18m over 10 years from stage three tax cuts

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

The Guardian - AU

Andy Burnham at odds with Labour leader Keir Starmer over Tory income tax cuts

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

Daily Mirror

Kwasi Kwarteng: Tax changes favour people right across the income scale

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…

Evening Standard

Watch: Kwasi Kwarteng hints more tax cuts are on the way

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.

Evening Standard

Britain's Labour pitches itself against tax cuts for the wealthy

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.

Reuters

Kwasi Kwarteng mulls more beneficial tax cuts for high earners

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

The Guardian - UK

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Manchester Evening News

Andy Burnham blasts Tory mini-budget a ‘flagrant act of vandalism'

Speaking to Sky News’s Sophy Ridge On Sunday programme, Burnham said: “I would have said this wasn’t a time for tax cuts.”

The Guardian - UK

Truss’s go-for-broke gamble means Labour inherits economic mess if it wins election

Vote is there to be lost by Labour. How hard can it be to show party would do a better job on economy?

The Independent UK

Kwarteng hints at more tax cuts to come as he rules out government borrowing limit

Labour says it would reinstate 45p tax rate

The Guardian - UK

Kwarteng: UK economy must expect more tax cuts and deregulation

Chancellor says he and Liz Truss want to do what previous Tory governments deemed unthinkable

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The Independent UK

Keir Starmer calls trickle-down economics a ‘piss take’ as he slams Tory tax cuts

Labour has announced plans to end dependence on fossil fuels by 2030

The Independent UK

Labour Party conference 2022 – live: ‘Tory sleaze festering’ under Truss, says Rayner

Keir Starmer’s party would ‘clean up public life and restore the basic standards we expect’, deputy says

Evening Standard

Liz Truss kissing goodbye to Red Wall with tax cuts, MPs fear

The £35billion package included the abolition of the top rate of income tax, a cut in the basic rate, a reduction in stamp duty, the cancellation of the National Insurance increase and the scrapping of the rise in corporation tax from 19pc to 25pc

Daily Mirror

Keir Starmer blasts 'p***take' Budget as Andy Burnham calls it 'vandalism on UK'

Labour's leader said plans to save the richest £10k a year each are 'not trickle down, it's taking the p***' - as Liz Truss plots a wave of new tax cuts in the new year

The Guardian - UK

The Tories’ huge gamble offers a fabulous opportunity Keir Starmer’s party must seize

Labour has a better plan for growth than Kwasi Kwarteng’s sugar-rush of tax cuts. Now it needs to pitch it to voters

Evening Standard

Truss vows to usher in a ‘decade of dynamism’ in hint at more tax cuts

The Prime Minister and Chancellor Kwasi Kwarteng defended their controversial raft of tax cuts amid accusations they mainly benefit the rich.

The Guardian - UK

The Observer view on Liz Truss’s disastrous ‘fiscal event’

This was a brazen gamble that can only damage Britain’s future

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