THERE "mini" called unveiled Chancellor Kwarteng was nothing about the somini-Budget by the new Kwasi yesterday. Kwarteng and Prime Minister Liz Truss have just exploded a big bazooka across the battleground of British politics. Last month critics were claiming that the country was drifting, with no policies forthcoming to tackle the energy crisis despite the threat of recession looming ever-larger.
Nobody can make that criticism now. Not only has Kwarteng delivered families an average of £1,400 each in energy bill subsidies - and come up with an equally radical package for business - but he has also served up tax cuts worth tens of billions.
At times in his Commons statement, it seemed like there was barely a high-profile tax that wasn't being cut, despite Government borrowing running at worryingly high levels. There were big reductions in stamp duty and national insurance, the scrapping of planned rises in corporation tax pencilled in by Rishi Sunak - remember him? - and a promised cut to the standard rate of income tax next year too.
This story is from the September 24, 2022 edition of Daily Express.
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This story is from the September 24, 2022 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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