I think the lefties will regret bombing out Boris, Truss is far more conservative.



Kwarteng says highest rate of income tax being abolished, and basic rate being cut to 19% from next April
Kwarteng concludes with two announcements about income tax.

He says the top rate of income tax – the 45% rate for earnings over £150,000 – is being abolished altogether.

He says Labour never had a 45% rate of income tax when it was in power.

And he says the government will cut income tax by 1p in the pound from April next year. That is one year earlier than planned, and it will take the rate down to 19%, he says.

This means that we will have one of the most competitive and progressive income tax systems in the world.

That’s it. He has finished the speech.

https://www.theguardian.com/politics...-tax-cuts-live


Key points from mini-budget
Despite the name, the mini-budget has announced quite a few changes for the UK.

Here is a run-through of the main ones:

Top rate of income tax for the highest earners abolished. Those on more than £150,000 a year will no longer pay45 per cent but instead the lower 40 per cent rate applicable to those on over £50,271
Cap on bankers’ bonuses axed
Planned increase to corporation tax scrapped
Cut to basic rate of income tax brought forward
Cut to stamp duty which means 200,000 fewer people will pay the tax on house purchases
VAT-free shopping introduced for overseas visitors
Legislation to force trade unions to put pay offers to a member vote so strikes can only be called once negotiations have fully broken down
Confirmation of plans to make around 120,000 more people on Universal Credit take active steps to seek more and better paid work or face having their benefits reduced

https://www.independent.co.uk/news/u...-b2173590.html