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On 23 September 2022, the Chancellor of the Exchequer, Kwasi Kwarteng, delivered a Ministerial Statement entitled "The Growth Plan" to the House of Commons. [1] [2] Widely referred to in the media as a mini-budget (it not being an official budget statement), it contained a set of economic policies and tax cuts such as bringing forward the planned 1% cut in the basic rate of income tax to 19% ...
The Prime Minister insisted Chancellor Kwasi Kwarteng was right to act to get the economy moving. Truss admits £45bn mini-budget tax cuts did cause 'disruption' Skip to main content
The Chancellor and Prime Minister defended Friday’s mini-budget amid financial market chaos. Truss and Kwarteng defend tax cuts as ‘right plan’ to get economy moving Skip to main content
One year on Liz Truss's and Kwasi Kwarteng's economic policies cast a big shadow still.
The mini-budget was a ministerial statement entitled "The Growth Plan" delivered by the Chancellor of the Exchequer, Kwasi Kwarteng, to the House of Commons on 23 September. It was received negatively by global financial markets and ultimately led to the dismissal of Kwarteng on 14 October. In the following days, Truss came under increasing ...
Mr Kwarteng has spoken publicly only a handful of times about his disastrous mini-budget and ousting from Government, as Prime Minister Rishi Sunak and Chancellor Jeremy Hunt promptly shifted ...
[77] [78] [79] In December 2022 Kwarteng said he regretted having been "too impatient" over the mini-budget, and that there was "no tactical subtlety whatsoever. [...] People got carried away, myself included." [80] Kwarteng maintains he and Truss were too rushed to consider economic and political results from their policies. Kwarteng maintains ...
The budget watchdog will have new powers to publish an assessment of major government tax and spending changes. Law introduced to strengthen OBR and prevent repeat of Truss mini-budget Skip to ...