The Latest Breaking News from Kwasi Kwarteng

The UK economy has been dogged by slow growth for a long time. Combined with even slower growth in productivity, it has meant virtually no increase in living standards for the average family over the past decade.

Divisions of leadership contest return to the fore as some MPs criticise extra borrowing to pay for tax cuts

The Chancellor announced cuts to Income Tax, National Insurance and stamp duty in a series of new measures

LONDON: The British pound plunged to a 37-year low and stocks sank after the government delivered the most sweeping tax cuts since 1972, as economists warned that the ambitious plan was unsustainable at a time when inflation is rampant.

Kwasi Kwarteng has unveiled a mini-budget that delivers billions of pound worth of tax cuts - including a surprise move to scrap the 45% top rate of income tax paid by the UK’s wealthiest. The Chancellor announced sweeping moves intended to rev up the economy in the eagerly-awaited “fiscal event”…

Institute of Fiscal Studies warned there was no ‘semblance of an effort to make the public finance numbers add up’.

Universal Credit is changing, with some people facing the risk of having their benefits cut if they don't work a certain number of hours at the National Living Wage

Liz Truss and Kwasi Kwarteng are two “desperate gamblers chasing a losing run” with an economic plan rewarding the “already wealthy”, according to shadow chancellor Rachel Reeves. The Labour frontbencher took aim at the Prime Minister and Chancellor as she warned the Government has served up a “menu without prices”,…

UK chancellor Kwasi Kwarteng has just launched the biggest package of tax cuts in half a century. This will involve around £45bn of reductions for people and businesses by 2027 – 50% more than anticipated before the mini-budget announcement.