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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 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 ...
Budget Revenue Expenditure Deficit/(Surplus) Budget Report 2024, October: £1.229 trillion £1.276 trillion £47.2 billion 2024, March: 2023, March: 2022, November: 2022, September mini-budget: 2021, October: £929 billion £1.045 trillion £116 billion 2021, March: £819 billion £1.053 trillion £234 billion 2020, March: £873 billion £928 ...
The Government has unveiled a raft of tax cuts as part of plans to drive up growth during the cost-of-living crisis.
Political and economic circles spent Saturday sizing up Jeremy Hunt, the new Chancellor.
Industry groups have responded to the Chancellor’s announcement in the House of Commons.
The Spring Statement of the British Government, also known as the "mini-budget", is one of the two statements HM Treasury makes each year to Parliament upon publication of economic forecasts, the second being the Autumn Statement presented later in the year. At 2016's autumn statement, it was announced the budget would move to the autumn, with ...
The mini-budget ultimately had negative effect on the British economy dramatically decreasing the market value of the pound and forcing the Truss-led government to do a u-turn on most of the announcements made in the mini-budget with Kwarteng sacked and replaced by Jeremy Hunt as Chancellor. The decision of the Truss ministry to ignore the OBR ...