A Treasury minister has denied the Government’s mini-Budget is a gamble that benefits only the rich and has lashed out out at “the politics of envy”.
Mr Kwarteng has insisted hisas he has cut taxes across income brackets, with the basic rate of income tax slashed from 20 per cent to 19 per cent.
“In fact, because there was one big tax increase the Chancellor didn’t reverse, and that is the fall over time in the point at which you start paying income tax. He denounced the Government’s “bizarre priority” after the cap on bankers’ bonuses, brought in after the 2008 financial cap, was axed.
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