Kwasi’s gamble to settle the score on the size of the state September 26, 2022 Neither Kwarteng or Truss are fools, even if they are gamblers. They know we cannot go back to the time when citizens were left to fend for
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 [...]
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 [...]
Kwarteng marks himself out as the most radical Chancellor since Lawson September 23, 2022 When Kwasi Kwarteng said he wanted to go for growth, it appears he meant it. Some will say the tax reforms announced today are ‘unfunded’ and reckless. Others will say it’s not the time for changes to banker’s pay. But in his ambition and his vision of a competitive Britain, the Chancellor has placed the [...]
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
Pound plummets to 37-year low against dollar ahead of Kwarteng’s mini-budget September 23, 2022 The Pound has plummeted to a fresh 37-year low against the dollar ahead of the Chancellor’s mini-budget today. Sterling dropped below $1.12 against the backdrop of a new low for consumer confidence, while FTSE 100 fell early. The pound has been on a poor recent run, with it announced this week the UK borrowed more [...]
Average monthly mortgage bill rises to £1,150 as new buyers set to struggle September 23, 2022 Average mortgage repayments are now above £1,150, as house sales are set to plummet with further rate-rises expected. Experts at Savills have said the Bank of England’s seventh consecutive base rate rise is hitting home-owners hard, and new buyers even harder. The hike to 2.25 per cent yesterday, the highest since 2014, means home-owners may [...]
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 [...]
Kwarteng vows ‘new era’ as he prepares to unveil tax-cutting mini-Budget September 22, 2022 Kwasi Kwarteng will tomorrow outline the biggest package of UK tax cuts in more than 30 years as a part of the government’s bid to launch a Thatcherite economic revolution. The chancellor today confirmed he would axe this year’s 1.25 percentage point increase in National Insurance in tomorrow’s mini-Budget and he is expected to cancel [...]
Let the battle for business’ hearts and minds begin September 22, 2022 Ladies and gentlemen, girls and boys, roll up, roll up to the greatest political show on earth. That may be slightly overselling it, but it is heartening to see the economy and business once again at the heart of our political debate. Today will see the first of what we imagine will be pretty dramatic [...]