Budget: Cuts on tax and stamp duty in multi million cash boost to families

by 24britishtvSept. 23, 2022, noon 21
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Families have today been given a lifeline as Kwasi Kwarteng swung an axe at income tax to face down the cost of living crisis. The Chancellor this morning revealed the basic rate of income tax would be slashed to 19p from April next year - saving 31 MILLION families an average £170 a year. Thirty massive money policies were introduced in today's mini budget bonanza, that sees £45bn worth of tax cuts to encourage economic growth. The Treasury insists the huge cuts will be paid for over time by the economic growth they unleash. Mr Kwarteng said: "We will deliver higher wages, greater opportunities, and fund public services, now and into the future. "That is how we will compete successfully with dynamic economies around the world. That is how we will turn the vicious cycle of stagnation into a virtuous cycle of growth." Continue reading... https://www.thesun.co.uk/money/news-money/19894345/kwasi-kwarteng-slashes-taxes/ The Sun newspaper brings you the latest breaking news videos and explainers from the UK and around the world Become a Sun Subscriber and hit the bell to be the first to know Read The Sun: http://www.thesun.co.uk Like The Sun on Facebook: https://www.facebook.com/thesun/ Follow The Sun on Twitter: https://twitter.com/TheSun Subscribe to The Sun on Snapchat: https://www.snapchat.com/discover/The_Sun/1633225139 #budget #politics #tax #uknews

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