Britain S Rich To Enjoy Lion S Share Of 45Bn Tax Cuts Announced By Kwasi Kwarteng
After Mr Kwarteng abolished the top income tax rate of 45 p.m. and reversed the 1.25 per cent rise in national insurance, independent economists said almost half of the £45 billion cuts would go to the top 5 per cent of earners. His package – which called for additional borrowing of £72.4bn at a time of rising interest rates – rattled markets, with the pound falling to a 37-year low against the dollar and the FTSE100 falling below the 7,000 mark for the first time since in June....