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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% ...
In September and October 2022, the Conservative Party government led by newly appointed prime minister Liz Truss faced a credibility crisis. It was caused by the September 2022 mini-budget and a disorganised vote in the House of Commons over a parliamentary motion to ban fracking, ultimately resulting in the loss of support of Conservative members of parliament (MPs).
From dizzying tax U-turns to Britain's fourth chancellor this year. Here's what has happened as the government descends into chaos.
The November 2022 United Kingdom autumn statement was delivered to the House of Commons on 17 November 2022 by Chancellor of the Exchequer Jeremy Hunt, after being delayed by three weeks from its original scheduled date of 31 October. [1] The budget addressed the ongoing cost of living crisis, [2] and saw the announcement of a five-year package ...
Ms Truss was forced out of office in October 2022 following a budget of £45 billion of tax cuts outlined by her chancellor Kwasi Kwarteng that triggered an economic crisis, as the pound fell to a ...
Liz Truss has stood by her new government's tax-slashing mini-Budget despite admitting to the "disruption" it has caused in the market. The prime minister on Friday (30 September) met with ...
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 ...
Mini-budget may refer to: July 2020 United Kingdom summer statement, also known as the Coronavirus mini-budget; September 2020 United Kingdom Winter Economy Plan, sometimes referred to as a mini-budget; September 2022 United Kingdom mini-budget, a fiscal event that led to market disruption and the fall of the Liz Truss government