Kwasi Kwarteng announces sweeping tax cuts in mini-budget
CategoriesUK News

Kwasi Kwarteng announces sweeping tax cuts in mini-budget

Chancellor scraps top 45% rate of income tax and cuts stamp duty

Kwasi Kwarteng’s mini-budget: key points at a glanceLive updates: Kwasi Kwarteng announces mini-budget

Cuts to the top rate of tax, national insurance, and stamp duty were announced by the government.

A 1p tax cut planned in the basic rate of income tax for 2024 will be brought forward to 2023, and the top rate of 45% is being scrapped, so the highest rate will be 40%.

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