Story Edition - Liz Truss makes stunning tax-cut gamble as pound plunges

 
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Wednesday, September 28, 2022

12:10:00 PM CEST

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Place : UK
Geo Path : Britain
lat : 51.50853   lon : -0.12574

Quotes... Extracted quotes

Gary Smith said (about Shadow Chancellor): "crying out for a credible economic vision for the future. “We need to bring inflation under control and build a modern manufacturing base that creates good jobs at home and enhances our national security. Instead the Chancellor has chosen to pour money into the hands of rich multinationals,"

newsnow-co-ukFriday, September 23, 2022 3:58:00 PM CEST

Kwasi Kwarteng said: “To increase housing supply and enable forthcoming planning reforms, we will also increase the disposal of surplus government land to build new homes. We are getting out of the way to get Britain building”

itvFriday, September 23, 2022 12:36:00 PM CEST

Boris Johnson said: “That budget is now known as the worst of modern times. Genuinely, I hope this one works very much better,”

standardFriday, September 23, 2022 2:59:00 PM CEST

Duncan Weldon said: “Like many others, I was expecting a large fiscal package. This was huge, well above the higher end of my expectations,”

newsnow-co-ukFriday, September 23, 2022 3:58:00 PM CEST

Paul Johnson said: “Mr Kwarteng has shown himself willing to gamble with fiscal sustainability in order to push through these huge tax cuts,”

thecourierFriday, September 23, 2022 4:51:00 PM CEST

Paul Johnson said: “Presumably this Government would borrow for that also. Mr Kwarteng is not just gambling on a new strategy, he is betting the house,”

thecourierFriday, September 23, 2022 4:51:00 PM CEST

Tim Bannister said: “Demand has been softening over the last few months but today’s announcement is likely to stimulate some more demand. If it does lead to a big jump in prospective buyers competing for the constrained number of properties for sale then it could lead to some unseasonal price rises over the next few months”

moneyweekFriday, September 23, 2022 5:11:00 PM CEST

Myron Jobson says: “While the planned hike in corporation tax from 19% to 25% has been consigned to the bin, while 'Investment Zones' in England, with specific tax cuts and liberalised planning rules, have been announced. The case for making tax cuts now is that they could stimulate greater consumer spending and encourage more investment in UK businesses,”

moneyweekFriday, September 23, 2022 5:11:00 PM CEST

Kwasi Kwarteng told: "This will provide a price guarantee equivalent to the one provided for households, for all businesses across the country,"

itvFriday, September 23, 2022 12:36:00 PM CEST

John Dickie said: “It is children in poverty who will pay the price for the Chancellor’s choice to prioritise tax cuts that mainly benefit the better off over additional support for low-income families It is absolutely vital that the UK government now increases benefits in line with inflation as soon as possible”

newsnow-co-ukFriday, September 23, 2022 3:14:00 PM CEST

Rachel Reeves declaring: "Never has a government borrowed so much and explained so little. This is no way to build confidence, this is no way to build economic growth"

newsnow-co-ukFriday, September 23, 2022 3:58:00 PM CEST

Paul Johnson said: “That budget is now known as the worst of modern times. Genuinely, I hope this one works very much better,”

news-yahoo-ukFriday, September 23, 2022 2:51:00 PM CEST

Kwasi Kwarteng told: “For an average household, that’s a saving of at least £1,000 a year, based on current prices,”

whatsnew2dayFriday, September 23, 2022 3:53:00 PM CEST

Roz Foyer said: “This is no longer austerity. This is Thatcherism on steroids. An acceleration of free-market, trickle-down economics that deepens inequality and embeds social injustice throughout the country”

newsnow-co-ukFriday, September 23, 2022 3:14:00 PM CEST

Steve Webb said: "There is likely to be a flurry of activity amongst Britain's highest earners looking to make the most of the chance to get tax relief at 45% on their pension contributions. "

newsnow-co-ukFriday, September 23, 2022 1:21:00 PM CEST

Liz Smith said: “If the SNP fails to pass on the UK Government’s cut in the basic tax rate, no one will be better off, but everyone earning more than £14,700 will be worse off. "Someone on the average annual salary will be around £200 worse off than people on the same wage elsewhere in the UK. If the tax gap is allowed to widen, it can only damage Scotland’s economy, discourage investment and damage jobs”

newsnow-co-ukFriday, September 23, 2022 6:59:00 PM CEST

Andrew McRae said: “Overall, we’ve been pleased to see a real recognition from the UK Government this week that tackling the cost of doing business crisis is an essential step in addressing the cost-of-living crisis that is plaguing households across the country”

newsnow-co-ukFriday, September 23, 2022 3:14:00 PM CEST

Rachel Reeves says: "working people [will be] left to pick up the bill"

newsnow-co-ukFriday, September 23, 2022 11:37:00 AM CEST

Kwasi Kwarteng said: “In due course we will publish a medium-term fiscal plan,”

irishtimesFriday, September 23, 2022 12:17:00 PM CEST

Tony Danker saying: “we have no choice but to go for growth to afford”

dailyechoFriday, September 23, 2022 3:13:00 PM CEST

Kwasi Kwarteng said: "Our plan is to expand the supply side of the economy through tax incentives and reform," "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"

newsnow-co-ukFriday, September 23, 2022 3:58:00 PM CEST

Shadow Chancellor replied: “what Scotland doesn’t need is reheated socialism from the SNP”

heraldscotlandFriday, September 23, 2022 12:01:00 PM CEST

Kwasi Kwarteng told: “This is a new approach for a new era focused on growth,”

irishtimesFriday, September 23, 2022 12:17:00 PM CEST

Kwasi Kwarteng said: “We’re at the beginning of a new era. We will cut the basic rate of income tax to 19p in April 2023 - one year early. This means that we will have one of the most competitive and progressive income tax systems in the world”

hulldailymailFriday, September 23, 2022 4:03:00 PM CEST

Kwasi Kwarteng added: “If we really want to level up, we have to unleash the power of the private sector,”

newsnow-co-ukFriday, September 23, 2022 1:02:00 PM CEST

Kwasi Kwarteng said: “If a business hires a new employee in the tax site then on the first £60,000 they earn the employer will pay no national insurance whatsover”

inews-co-ukFriday, September 23, 2022 12:55:00 PM CEST

Kwasi Kwarteng said: “or face having their benefits reduced”

inews-co-ukFriday, September 23, 2022 12:55:00 PM CEST

Ms Reeves said: “Never has a Government spent so much and explained so little”

theargusFriday, September 23, 2022 12:18:00 PM CEST

Alison Thewliss said: “The measures announced by the chancellor today do not go anywhere near far enough to mitigate the Tory-made cost of living crisis, and it’s shameful that the Tory government is increasing energy prices again to £2,500 instead of introducing a real freeze on bills”

pressandjournalFriday, September 23, 2022 2:30:00 PM CEST

Kwasi Kwarteng told: “currently higher than the headline top rate in G7 countries like the US and Italy,”

bnnbloombergFriday, September 23, 2022 11:31:00 AM CEST

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Subtitles

  • How will mini-budget announcements affect UK households?
  • Half of Kwarteng’s cuts to personal tax will go to richest 5%, say experts
  • What the 'Emergency Budget' means for you: From income tax cut to reversing National Insurance…
  • ...
  • How will mini-budget announcements affect UK households? The Government has unveiled a raft of tax cuts as part of plans to drive up growth during the cost-of-living crisis.
  • England had better prepare for Scottish tax exiles
  • Liz Truss makes stunning tax-cut gamble as pound plunges

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