Trusted News Discovery Since 2008
{{/content}}
New UK Chancellor Hunt to rip up tax-slashing budget
Video Credit: AFP English
Published on October 17, 2022 - Duration: 00:57s
New UK Chancellor Hunt to rip up tax-slashing budget
Britain’s new Chancellor of the Exchequer Jeremy Hunt announces sweeping changes to the government’s so-called ‘mini-budget’, which was announced less than a month ago by his predecessor Kwasi Kwarteng.
The September fiscal event brought instability to financial markets and increased the UK’s borrowing costs.
In a statement to media, Hunt announced that the base rate of tax will now not be cut ‘until economic circumstances allow it’, and said that the existing energy price support scheme will be redesigned in a more targeted way to help those most in need from next April, while also warning that government spending will need to be cut in other areas to deliver stability.
You are here
Related news from verified sources
Another day, another U-turn. And a change of Chancellor, with Jeremy Hunt replacing Kwasi Kwarteng with effect from today (14 October 2022). This makes Kwasi...
on October 17, 2022 • Mondaq
Britain's new finance minister on Saturday warned of looming tax hikes as he admitted to "mistakes" made in a disastrous budget that still threatens to bring...
on October 15, 2022 • IndiaTimes
Related videos from verified sources
Hunt: New leadership would bring more instability 01:39
Video credit: ODN - Published on October 17, 2022
Hunt announces new economic advisory council for UK growth 02:13
Video credit: ODN - Published on October 17, 2022
Hunt reverses most tax cuts to tackle economic instability 02:33
Video credit: ODN - Published on October 17, 2022