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The Latest Breaking News from Tax Cuts

Letters of no confidence in Liz Truss 'already being put in' by Tory MPs

It comes as the pound has hit an all-time low against the US dollar

Wales Online

Kwasi Kwarteng declines to comment as pound hits all-time low against US dollar

The Bank of England is expected to give a statement on the sterling’s slump

The Independent UK

Targetting government, UK's Labour pledges sound finances and strong public services

Britain's opposition Labour Party set out its economic vision on Monday, promising, if in power, to be fiscally responsible and take care of public services, in a swipe at the Conservative government's tax cuts for the wealthy.

Reuters

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UK's wealthiest were not asking for tax cuts, survey shows

Most high net worth individuals say they were saying the right amount of tax

Wales Online

Markets warn sterling slump could lead UK interest rates to triple by next year

Analysts expect Bank of England to convene meeting to raise rates with further increase in November

The Guardian - UK

Kwarteng ‘not reading room’ with tax cuts for rich, says ex-England star Neville

Former footballer Gary Neville was speaking at the Labour Party conference in Liverpool.

The Independent UK

Government to push on with tax cuts as pound hits all-time low against dollar

Neither Chancellor Kwasi Kwarteng nor Liz Truss are currently expected to publicly address the major market shift, following Friday’s mini-budget

Evening Standard

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Warning to everyone with a mortgage after Friday's announcement

A raft of tax cuts unveiled on Friday last week have prompted concerns

Wales Online

Labour vows to reverse Tory tax cut to fund massive NHS workforce expansion

Shadow Chancellor Rachel Reeves said the NHS was 'on its knees' and Labour would pour cash into boosting health service staff rather than prioritising tax cuts for the richest

Daily Mirror

Pound Collapse Puts Dollar Parity, Emergency Bank of England Rate Hikes in Focus

Britain's new government said it will continue focusing on tax cuts and new borrowing to boost growth even as markets push the pound to a record low against the U.S. dollar.

The Street

Kami-Kwazi bets big while hedge funds short the pound

City Comment: The tax cuts might work. Maybe.

Evening Standard

Liz Truss: Tory MPs sending no-confidence letters over fears she will ‘crash the economy’, says ex-minister

‘Liz is f*****’, says former minister in Boris Johnson government

The Independent UK

Pound hits all-time low in backlash at Kwasi Kwarteng’s tax cuts

Pound crashes to its lowest level against the dollar since 1971

Evening Standard

Gary Neville calls on Liz Truss to 'head the ball in the net' over football shake-up

The former footballer, who has been scathing about the Tory government's tax cuts for the rich, called on the government not to drag its heels over fair distribution of cash

Daily Mirror

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Daily Record

Tory tax cuts leave UK economy in a 'very dangerous place', warns John Swinney

The SNP finance secretary said no decision had been made on whether the Scottish Government would replicate any of the tax cuts announced in Westminster last week.

Insider UK

UPDATE: Mini-budget 'would be wrong to follow' - Sturgeon

First Minister's comments follow her deputy stating that a Scottish Government response would be base around fairness

The National (Scotland)

John Swinney: Scottish Government to 'reflect carefully' on Chancellor's tax cuts

John Swinney said the Chancellor's tax cuts will have "significant" consequences

The Independent UK

Gary Neville says Liz Truss is ‘taking the Mickey’ over tax cuts for rich

Former England international to join Sir Keir Starmer at Labour Party conference

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Manchester Evening News

Holidays, spending and benefits? What the pound hitting a record low means for Britons

Sterling plunged to a record low just days after Kwasi Kwarteng's mini-budget was set out

The Independent UK

John Swinney: Scottish Government to reflect fairly on UK tax cuts

The Deputy First Minister told BBC Radio’s Good Morning Scotland the UK economy is in a ‘very dangerous place’ after the plans were announced.

Daily Mirror

GMB's Susanna Reid grills Tory MP on tax cuts for the wealthy in heated exchange

Good Morning Britain’s Susanna Reid and co-host Ed Balls spoke with Conservative MP Chloe Smith on the ITV programme

The Guardian - UK

Pound’s plummet underlines schoolboy error by Kwasi Kwarteng

Chancellor added to market worries by pledging further tax cuts in full budget planned for later this year

Manchester Evening News

Pound hits all-time low as fallout from Kwasi Kwarteng's 'mini-budget' continues

The Chancellor has hinted at more tax cuts to come

Daily Mirror

Pound hits all-time low against dollar and is now worth just $1.03 after Mini-Budget

The pound plunged to a record $1.03 low against the US dollar this morning as international markets continued to reject Kwasi Kwarteng's tax-cutting Mini-Budget

The Guardian - UK

Sterling slides back towards record low as Bank of England and Treasury fail to reassure markets – as it happened

Bank of England says it ‘will not hesitate’ to change interest rate but appears to be trying to squash expectations of an emergency rise

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