The Tories’ plan to make the rich richer
Kwasi Kwarteng, the Chancellor, presented a mini-Budget today (23 September) whose centrepiece was the biggest tax cuts in decades in an attempt to stimulate the economy. Anoosh Chakelian, Rachel Wearmouth, Rachel Cunliffe and Emma Haslett take us through the announcements that shocked the House of Commons.
They discuss how these ideological policies will disproportionately benefit the rich; the UK’s precarious financial position as borrowing costs jump; and whether this is a departure from the last twelve years of Tory rule, as was suggested by Rachel Reeves, the shadow chancellor.
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The skinny
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