Line of Duty star Martin Compston has slammed the mini-budget calling it an 'absolute disgrace'.
New Tory Chancellor Kwasi Kwarteng released the mini-budget today in the House of Commons where he pointed out changes to National Insurance and Income Tax amongst other topics.
This comes as the UK is a week away from seeing their energy bills rise as the energy and cost of living crisis continues to hit households across the country.
READ MORE: Paper £20 and £50 bank notes will expire within days as urgent deadline warning issued
One of the controversial changes announced by the Chancellor was the UK Government scrapping the 45 per cent rate of Income Tax on annual income above £150,000 from April 6 2023. This means all annual income above £50,270 will be taxed at 40 per cent, the current higher rate of Income Tax.
The Greenock actor quickly took to Twitter and said: "Absolute disgrace during a cost of living crisis. Those who earn more should be paying more in periods like this. I don’t want to pay more tax same as everybody else but when people are literally struggling to keep their lights on more than happy to be paying 46 per cent here in Scotland."
And as PA News reported, Sarah Coles, senior personal finance analyst at Hargreaves Lansdown said: “Our research shows that additional rate taxpayers are far more likely to have wiggle room in their budgets, and dramatically more likely to do so as we go through the cost-of-living crisis.
“So those who are the least desperate for help will receive the most.
“Putting money in the pockets of higher earners also raises an inflation risk. If they don’t need this extra cash to fill a hole in their budget, there’s a risk their spending will rise, pushing up prices even further.”
As for National Insurance, the 1.25 percentage point rise in which came into force in April, will be reversed from November. This means 28 million people across the UK will keep an extra £330 a year, on average, in 2023/24, according to the Government.
READ NEXT:
Drivers issued warning over messy cars that lead to hefty £5,000 fine
DWP issues £150 cost of living payment update after delay due to Queen's funeral
Martin Lewis issues Direct Debit advice to energy customers who want cheaper rate
DWP shares pay-out potential for PIP claimants backdating other benefits
Martin Lewis issues important energy advice to all households ahead of price cap
