Pound plummets amid raft of biggest tax cuts
Manchester Evening News|September 24, 2022
THE pound plummeted after Chancellor Kwasi Kwarteng announced the biggest raft of tax cuts for half a century, in a "gamble" to raise falling living standards by boosting growth.
Pound plummets amid raft of biggest tax cuts

Using more than £70 billion of increased borrowing, Mr. Kwarteng yesterday set out a package which included abolishing the top rate of income tax for the highest earners.

He cut stamp duty for homebuyers and brought forward a cut to the basic rate of income tax, to 19p in the pound, a year early - to April - as part of tax cuts costing up to £45 billion annually.

This story is from the September 24, 2022 edition of Manchester Evening News.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

This story is from the September 24, 2022 edition of Manchester Evening News.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.

MORE STORIES FROM MANCHESTER EVENING NEWSView All
Reds feeling right at home on away days
Manchester Evening News

Reds feeling right at home on away days

IN the space of just over seven weeks this year, United won as many domestic away games as they had in the previous 12 months. One of the biggest weaknesses of the Erik ten Hag era had, suddenly, become a strength.

time-read
2 mins  |
March 29, 2024
Jackson is ready for a new golden generation
Manchester Evening News

Jackson is ready for a new golden generation

Colin Jackson is convinced this summer's Paris Games could give rise to a \"new generation\" of household names in British athletics.

time-read
1 min  |
March 29, 2024
New Cabinet for Abbas
Manchester Evening News

New Cabinet for Abbas

THE Palestinian Authority (PA) has announced the formation of a new Cabinet as it faces international pressure to reform.

time-read
1 min  |
March 29, 2024
Nature's miracles could rock your Easter stroll
Manchester Evening News

Nature's miracles could rock your Easter stroll

OVER the Easter weekend I will be spending a lot of time wandering around the streets of Manchester, while spotting little wildlife miracles.

time-read
1 min  |
March 29, 2024
More than 320,000 to join record Easter exodus
Manchester Evening News

More than 320,000 to join record Easter exodus

AIRPORT OFFERS ADVICE TO GIVE PASSENGERS SMOOTH RIDE

time-read
2 mins  |
March 29, 2024
'I've done nothing wrong' insists MP over tax claims
Manchester Evening News

'I've done nothing wrong' insists MP over tax claims

RAYNER WILL NOT PUBLISH 'PERSONAL ADVICE' ON HOUSE SALE

time-read
2 mins  |
March 29, 2024
Wheelchair user left trapped at tram stop
Manchester Evening News

Wheelchair user left trapped at tram stop

ASHLEY HAD TO WAIT ON PLATFORM FOR AN HOUR DUE TO BROKEN LIFT

time-read
2 mins  |
March 29, 2024
Zero heroes slice up the opposition
Manchester Evening News

Zero heroes slice up the opposition

CUSTOMERS FLY IN FROM NAPLES FOR A PIZZA THE ACTION AT COUNTRY'S TOP SPOT

time-read
2 mins  |
March 29, 2024
Murder bid suspect is held after stabbing
Manchester Evening News

Murder bid suspect is held after stabbing

TEENAGER SUFFERS 'LIFE-THREATENING' INJURIES

time-read
1 min  |
March 29, 2024
My BMW told me it had been crashed at airport while I was in the US
Manchester Evening News

My BMW told me it had been crashed at airport while I was in the US

A DAD'S £30,000 BMW was written off after it was crashed by Manchester Airport valet staff in a multi-storey car park.

time-read
2 mins  |
March 29, 2024