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UK Chancellor insists vast tax cuts are ‘not a gamble’ amid hostile reception

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UK Chancellor Kwasi Kwarteng has insisted that vast tax cuts are ‘not a gamble’, amid backlash to the scrapping of the higher tax band

Image: PA Image: PA BRITISH CHANCELLOR KWASI Kwarteng has denied suggestions he is gambling with the UK economy, insisting that the biggest raft of tax cuts for half a century were “absolutely fair” as his mini-budget faced a hostile reception.

Kwarteng announced yesterday that the top rate of income tax for the highest earners was to be axed, as he spent tens of billions of pounds in a bid to drive up growth to ease the cost of living crisis. “What is a gamble is thinking that you can keep raising taxes and getting prosperity, which was clearly not working.

 

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