Strategy of sweeping tax cuts gets hostile reception from markets and economic thinktanks, leaving some Tory MPs aghast Kwasi Kwarteng has been accused of delivering a reckless mini-budget for the rich after his £45bn tax-cutting package sent the pound crashing to its lowest level against the dollar in 37 years. […]
Month: September 2022
High earners are the big winners in the chancellor’s tax giveaway, while people on universal credit risk losing income Continue reading…
Divisions of leadership contest return to the fore as some MPs criticise extra borrowing to pay for tax cuts Politics live: reaction to the mini-budget Kwasi Kwarteng’s mini-budget will prove “politically toxic and economically dubious”, Conservative MPs have said as they lambasted the extra £72bn of borrowing needed to pay […]
Chancellor maxes out with morally bankrupt budget that is anything but mini Live updates: Kwasi Kwarteng announces mini-budget Kwasi Kwarteng. What a guy! On Monday he put the fun into funeral with a few gags at Westminster Abbey. On Friday he puts the fizz into fiscal with an event – […]
From income tax to stamp duty and national insurance, how Kwasi Kwarteng’s announcements could affect you Kwarteng scraps top 45% rate of income tax and cuts stamp duty The chancellor, Kwasi Kwarteng, has announced a sweeping package of measures in his mini-budget, including a number of tax cuts that will […]
Reports ethnic minorities may be disproportionately affected while protesters in Moscow drafted on arrest Russia-Ukraine war – latest updates Summons delivered to eligible men at midnight. Schoolteachers pressed into handing out draft notices. Men given an hour to pack their things and appear at draft centres. Women sobbing as they […]
Turkey, India and China respond cooly to news of planned referendums in Ukrainian regions occupied by Russia Russia-Ukraine war – latest updates Signs that some countries willing to tolerate Russia’s invasion of Ukraine are losing patience have emerged as Turkey, India and China responded cooly to the announcement that four […]
António Guterres also denounces plans to annex parts of Ukraine as a violation of international law Russia-Ukraine war – latest updates The UN secretary general has issued a strongly worded rebuke to Russia for “totally unacceptable” nuclear threats and denounced its plans to annex parts of Ukraine as a “violation […]
Threadneedle Street makes clear on eve of tax-cutting mini-budget that plans risk triggering more rate rises The Bank of England has warned Kwasi Kwarteng the economy is in recession and it will most probably need to push interest rates higher after Friday’s tax-cutting mini-budget. On the eve of a major […]
Former cabinet minister urges Labour leader to be ‘restless for change’ and challenge ‘post-truth’ campaign by Truss government Liz Truss will mount a “post-truth” campaign presenting the Conservatives as the party of change at the next election, Peter Mandelson has warned, as he called on Keir Starmer not to “sit […]