City backs mini-budget measures: ‘Scrapping bonus cap shows we are open for business’ September 23, 2022 The City of London has welcomed measures in today’s mini-budget, backing the scrapping of bankers’ bonuses and freezing of cooperation tax hikes. Policy Chairman at the City of London Corporation Chris Hayward responded to Kwasi Kwarteng’s fiscal statement today, which included a raft of changes from planning and benefits to stamp duty and national insurance. [...]
Half of tax cuts in Kwarteng’s mini-budget will go to richest five per cent, Resolution Foundation claims September 23, 2022 Half of the Chancellor’s planned tax cuts will go to the richest five per cent of the country, a leading think-tank has said. In sharp criticism of today’s raft of new policies in the mini-budget, the Resolution Foundation hit out at Kwasi Kwarteng for having “blown the budget”. This comes after Kwarteng announced a tax [...]
Kwarteng ditches corporation tax hike in bid to lure investment September 23, 2022 Kwasi Kwarteng has scrapped the formerly announced six percentage point hike in corporation tax - keeping the rate at 19 per cent.
Kwarteng tightens rules around universal credit to ‘get Britain working again’ September 23, 2022 Kwasi Kwarteng has tightened rules around universal credit in a bid to “get Britain working again”. As it stands, universal credit claimants working up to 12 hours a week at the National Living Wage are at risk of cuts if they don’t take steps to increase their earnings nor meet regularly with a work coach. However, [...]
Pound crashes to fresh 37-year low against US dollar after Kwarteng tax bonfire September 23, 2022 The pound plunged to a new historic low against the US dollar in response to new chancellor Kwasi Kwarteng launching the biggest round of tax cuts since 1972 at today’s mini-budget. Sterling crashed over one per cent against the greenback to $1.1108, its lowest level in 37 years. The pound has been on a downward [...]
Watch out NIMBYs: Kwarteng pledges to get Britain building again September 23, 2022 The Government has announced its intention to radically overhaul the planning system to ramp up major infrastructure projects.
Mini-budget: Kwarteng gives boost to pubs in cancelling increase on alcohol duties September 23, 2022 Chancellor Kwasi Kwarteng has announced that increased duties on alcohol will be cancelled, in a bid to support pubs, bars and breweries. In today’s mini-budget he said the government will introduce an “18-month transitional measure for wine duty” and “extend draught relief to cover smaller kegs of 20 litres and above”. The measures comes as [...]
Kwarteng makes permanent cut to stamp duty in a bid to drive growth September 23, 2022 Kwasi Kwarteng confirmed stamp duty would be slashed from today in a bid to drive growth and boost confidence in the economy. Announcing his mini-budget, Kwarteng said: “Today’s statement is about growth. Home ownership is the most common route for people to own an asset, giving them a stake in the success of our economy [...]
Kwarteng launches most radical tax cut programme in a generation September 23, 2022 Kwasi Kwarteng unleashed a tax cut bonanza in the House of Commons today, helping millions of Brits keep hold of more of their money
Liz Truss cost of living support fails to prevent new consumer confidence low September 23, 2022 Liz Truss’s cost of living support has done nothing to lift Brits’ optimism out of the doldrums, a closely watched survey published today reveals. Consumer confidence collapsed five points over the last month to minus 49, the lowest since research firm GfK started tracking the figures in 1974. The survey was carried out between early [...]