The Chancellor has set out his financial plan for the future.
Jeremy HuntThe new Chancellor brought forward measures from the medium-term fiscal plan that will support “fiscal sustainability”, the Treasury said.
These are the key points made by Jeremy Hunt today, days after he was appointed Chancellor by Prime Minister Liz Truss.Jeremy Hunt has announced the Government will scrap plans to reduce the basic rate of income tax from 20% to 19% in April next year, a move that had been forecast would cost the Exchequer almost £5.3 billion in 2023-24.
Chancellor Jeremy Hunt confirmed he is ditching many of the measures in the mini-budget, including the planned cut to income tax.
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