Quote Originally Posted by cyril evans awaydays View Post
Maybe. But for a very short time until the markets intervened, there was a budget pitched at £45b of tax cuts predominantly for the most wealthy that resulted in about the same amount of debt for the people of this country. Who got the £45b is anyone's guess I suppose but probably not people on Universal Credit!
the main thrust of Kwarteng's budget was reducing NICs, followed by keeping corp tax rates at 19% rather than (the now) 25%, as well as reducing the top rate of income tax from 45% to 40%. The latter is the only real aspect of the budget that favours those earning more than £150k per annum. The government should have allowed the OBR to prepare a forecast prior to the mini budget release. They paid the price for it.