The Latest Breaking News from Tax Cuts

A former Conservative cabinet minister has called the government’s mini budget announcing tax cuts for the rich “wrong”.

Thinktank says someone earning £1m will gain £40,000 as top rate, basic rate and national insurance reduced

The Chancellor announced cuts to Income Tax, National Insurance and stamp duty in a series of new measures

LONDON: The British pound plunged to a 37-year low and stocks sank after the government delivered the most sweeping tax cuts since 1972, as economists warned that the ambitious plan was unsustainable at a time when inflation is rampant.

Kwasi Kwarteng has unveiled a mini-budget that delivers billions of pound worth of tax cuts - including a surprise move to scrap the 45% top rate of income tax paid by the UK’s wealthiest. The Chancellor announced sweeping moves intended to rev up the economy in the eagerly-awaited “fiscal event”…

UK chancellor Kwasi Kwarteng has just launched the biggest package of tax cuts in half a century. This will involve around £45bn of reductions for people and businesses by 2027 – 50% more than anticipated before the mini-budget announcement.

Tax cuts for the rich, no limits on bankers bonuses and tougher benefit sanctions - funded by a £70billion Government borrowing spree. We've trawled through the documents to find all the unfortunate details in Kwasi Kwarteng's mini-Budget

Nicola Sturgeon and Mark Drakeford criticise UK government over mini-budget that ‘embeds unfairness’

Kwarteng’s borrowing spree will have ugly economic consequences, says Michael Jacobs of Sheffield University