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New Prime Minister Liz Truss has announced a series of tax cuts as she attempts to grow the United Kingdom's economy.
Under her plans, the top earners will pay a top income tax rate of 40% - a reduction from the previous rate of 45%. Her government has also brought forward a planned cut to the basic rate of income tax to 19p in the pound a year early, and reduced stamp duty for homebuyers.
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The proposed cuts have been met with much criticism and financial markets reacted poorly to the announcement. The pound hit an all-time low against the US dollar on Monday after markets reacted to the planned cuts - the biggest seen in the UK in 50 years.
In his keynote speech at the Labour Party conference in Liverpool on Tuesday, Sir Keir Starmer took aim at Ms Truss' economic approach, telling attendees that her government had crashed the economy to offer tax cuts to the richest 1% in society.
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