‘Rabbits’ and ‘traps’ – Jeremy Hunt set to deliver his 2nd full budget to the Commons

Chancellor Jeremy Hunt will deliver his second budget to the House of Commons this lunchtime as speculation mounts that his statement will include further ‘rabbits’ beyond those already trailed. In what is likely to be the last set piece financial occassion before this year’s election, it has been widely reported that Mr Hunt will announce […]

Hunt increases tax burden to the highest level since World War II

Chancellor Jeremy Hunt has this lunchtime unveiled a range of tax raising measures that will see the tax burden rise to 37.5% of GDP in 2024/25, the highest level since the second world war. Taxes have now risen 4.1% as a proportion of GDP since the start of the covid pandemic. On the back of […]

Chancellor says he has ‘contrition’ as he reverses plans to cut 45p rate of income tax

The new chancellor Kwasi Kwarteng has confirmed that the government has cancelled plans to abolish the 45p rate of income tax on those earning over £150,000. Speaking on the BBC Radio 4 ‘Today’ programme this morning, Mr Kwarteng said, “On the 45p rate, it is very simple, we talked to a lot of people around […]

Truss ‘stands by’ her budget as Conservative MPs start to express concerns

A week on from the government’s mini-budget in which the chancellor Kwarsi Kwarteng announced a range of tax cuts, including the abolition of the top income tax rate of 45p, the approach has been defended by the prime minister. Speaking on the BBC 1 Laura Kuennsberg programme this morning, Liz Truss said, “The 45p rate […]

Kwarteng dramatically cuts tax, and rolls the dice on growth

Little more than two weeks into his tenure as Chancellor of the Exchequer, Kwarsi Kwarteng has this morning unveiled the largest set of tax cutting measures seen in Britain since the Barber budget of 1972. This is something of which Mr Kwarteng, who holds a PhD in ecomomic history, will be acutely aware. In what […]

We cannot tax our way to prosperity

It’s a new year and a new start. No doubt everyone is hoping this year will be better than the last, especially Boris and his government after the past month. But while you might be feeling a little sore from last night’s festivities, this year’s hangover is going to last a lot longer. Trends come […]

Rayner v Raab as the deputies stand in at feisty PMQs

Dominic Raab, faced questions from Angela Rayner at PMQs today in the House of Commons.

Cameron speech verdict: Where is all this money suddenly coming from?

David Cameron’s COnservative party conference speech was like watching a Robing Hood who refused to steal from the rich

Cameron refuses to rule out new millionaire tax cut

Cameron refuses to rule out handing another tax cut to Britain’s highest earners, following a campaign by senior Conservatives to slash the top rate of tax to 40p.

Boris Johnson: Super-rich an oppressed minority like homeless people

London mayor says wealthy should be protected from “bullying” and awarded automatic knighthoods.