Mini Budget (Revised)

mini budget revised

Following our summary of the 2022 Mini Budget on 23 September, the Chancellor has announced that plans to scrap the highest rate of income tax will be reversed, following a major backlash.

Kwasi Kwarteng said the plan for the additional rate of income tax ‘had become a terrible distraction from the wider growth plan’.

The reversal comes in response to the near-collapse of the pound caused by the controversial measures introduced in the government’s ‘Mini Budget’ of 23rd September 2022. 

Please see our revised summary here.

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