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New UK chancellor ditches almost all ‘mini budget’ tax cuts in a bid to stabilise markets
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New UK Chancellor Jeremy Hunt said Monday he is reversing nearly all the government’s proposed tax cuts and will pare back an energy price cap as he moves to undo Prime Minister Liz Truss’s debt-fuelled growth plan in an effort to reassure markets about the stability of the nation’s finances.
Hunt, speaking ahead of an emergency statement to parliament on the economy, said “the most important objective for our country right now is stability,” as he announced a revised plan he said would raise around £32bn a year, equivalent...
Read more on fnlondon.comAbout this in other media
Liz Truss admits budget mistakes and apologises after Jeremy Hunt announces mini-budget U-turn euronews.com /1 year ago
Banker bonus cap wasn’t working, says new chancellor Jeremy Hunt fnlondon.com /1 year ago
Jeremy Hunt hints at tax rises as he reverses mini-budget in Commons theguardian.com /1 year ago
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