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Jimbuna · 10-17-22, 07:15 AM

Chancellor Jeremy Hunt ditches almost all of PM Liz Truss's tax cuts announced in the government's mini-budget three weeks ago.

The basic rate of income tax will remain at 20p indefinitely - instead of being reduced to 19p

The cap on energy prices charged to households is now only guaranteed until April next year, but will then be reviewed.

But the cuts to stamp duty and National Insurance remain in place.

Hunt says his announcement - bringing forward measures from an economic plan on 31 October - is designed to calm financial turmoil following the mini-budget.

He will address MPs in the House of Commons at 15.30 and give further details.

Truss has been meeting cabinet ministers as she attempts to shore up her premiership, following calls from some Tory MPs for her to go.

10-17-22, 07:15 AM	#270
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 191,168 Downloads: 63 Uploads: 13	Chancellor Jeremy Hunt ditches almost all of PM Liz Truss's tax cuts announced in the government's mini-budget three weeks ago. The basic rate of income tax will remain at 20p indefinitely - instead of being reduced to 19p The cap on energy prices charged to households is now only guaranteed until April next year, but will then be reviewed. But the cuts to stamp duty and National Insurance remain in place. Hunt says his announcement - bringing forward measures from an economic plan on 31 October - is designed to calm financial turmoil following the mini-budget. He will address MPs in the House of Commons at 15.30 and give further details. Truss has been meeting cabinet ministers as she attempts to shore up her premiership, following calls from some Tory MPs for her to go. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!