Levelling Up secretary Simon Clarke described today’s fiscal event as a ‘game changer’ for Britain’s economy. Was he right?
The announcement from Chancellor Kwasi Kwarteng was not so much an ‘event’ as a major Budget, which ushered in £45 billion worth of tax cuts – the ‘biggest tax cutting event since 1972’, according to the Institute for Fiscal Studies.
All that was expected was announced: the National Insurance levy brought in for health and social care – which came in back in April – will be scrapped from 6 November.
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