Mini-budget 2022: Tax cuts and other key measures unveiled by Chancellor

Grumpy_chap

All this market reaction to the Chancellor's statement last week seems to be rather an over-reaction if compared to previous market reactions to events.


1st September 2022.  £0.75 to 1 USD.
26th September 2022.  £0.93 to 1 USD.


1st February 2022.  76 Russian Ruble to 1 USD.
28th February 2022.  100 Russian Ruble to 1 USD.


Big tax cuts for the wealthy was a big surprise but nowhere near as bad as what Putin did, yet the market has priced it nearly as bad...


Currency data from here:
https://www.xe.com/currencytables/?from=USD&date=2022-09-26#table-section

Jeremy535897

We give more in aid to Ukraine annually than the estimated annual cost of the additional rate cut per the Chancellor's growth plan. 

MSE_Petar

Hi everyone,

The Chancellor has announced that the 45% rate of income tax will remain. See our MSE News story below:

Top 45% rate of income tax will remain in place, as Government U-turns on plans to scrap it