Chancellor Kwasi Kwarteng is set to unveil the ‘Growth Plan’, a package of over 30 measures to tackle high energy bills, drive down inflation and cut taxes 'to promote economic growth', in its Mini Budget statement at 9.30am today.
Some of the measures announced will include lowering taxes for businesses in new investment zones and cutting environmental regulation "to encourage business investment, drive growth, create jobs, improve living standards and promote confidence in the UK economy", the Treasury said. "Growth is not as high as it needs to be, which has made it harder to pay for public services, requiring taxes to rise. This cycle of stagnation has led to the tax burden being forecast to reach the highest levels since the late 1940s," Kwarteng will say in his speech. "We are determined to break that cycl...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes