Liz Truss backs mini-budget despite cabinet not being consulted on top tax rate by Chancellor Kwasi Kwarteng
The Prime Minister insists the plan was clear and necessary so the economy can grow in the future and that the economic package prevents people paying up to £6,000 on energy bills.“On the subject of government borrowing, I think it is right,” Truss said.When asked about whether the whole cabinet was consulted over the decision to scrap the 45% top rate of tax, the Prime Minister answered no, “it was a decision the chancellor made”.
Truss was also questioned about the Chancellor’s alleged meeting with hedge fund managers on budget day and stated that he meets business all the time.Chancellor of the Exchequer Kwasi Kwarteng. Picture: Aaron Chown/PA WireThe mini-budget delivered on Friday, September 23 addressed issues in a number of sectors.
Among some of the measures announced are the abolishment of stamp duty for new businesses, the opening ofbasic income tax rate will be cut from 20% to 19% in the next financial year, and those receiving Universal Credit will have to prove they are proactively searching for a job in a bid to fill the large number of vacancies in the UK.
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