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Announced the biggest tax cuts for half a century. this is the first unveiling of economic plans under the new uk government led by liz truss. among the measures, the higher rate of income tax of 45% is to be abolished. a planned rise in corporation tax from i9% to 25% has been cancelled — that's the tax businesses pay on their profits. and the rules which cap bankers�* bonuses to twice their annual salary have been scrapped. but the markets have not reacted well and the pound fell to a 37—year low against the dollar. it fell more than 3% against the dollar, dropping below $1.09. the opp...

Goldman sachs, forecasting today a recession is not only inevitable. they said the question isjust inevitable. they said the question is just the timing, magnitude or the length of such a global recession.— a global recession. david, thank yom _ here in the uk, the government has taken steps to boost the economy, with plans for the biggest tax cuts for half a century. among a package of measures announced on friday, the higher rate of income tax of 45% is to be abolished. a planned rise in corporation tax from i9% to 25% has been cancelled, that's the tax businesses pay on their profits. and...

To a 37—year low against the dollar — dropping below $1.09. the opposition labour party has called the government "desperate gamblers in a casino chasing a losing run". the bbc�*s political editor chris mason reports. —— rob watson gave his analysis. essentially, this is a package of massive tax cuts that's going to amount about $50 billion of tax cuts in about five years�* time. there's also a programme of deregulation and the sort of big—picture idea is that if you cut taxes on corporations and you cut taxes on the wealthiest, that will lead to more growth and it will attract p...

6:15am. let's have a look at the papers and the front patches. kwasi kwarteng's massive wave of tax cuts dominates the front pages. the i reports that sterling fell below $1.09 for the first time since 1985 after the move, and describes the markets' reactions as a punishing early verdict on the chancellor's plans. "a budget for the rich" is the guardian's damning headline, describing the chancellor's package as the "biggest giveaway "since anthony barber's ill—fated 1972 budget". some labour mps have described the plans as a "class war". not all papers are critical. the daily mail celebrates...

Well, as the war in ukraine has caused a rise in energy prices and impacted the cost of living in many parts of the world, here in the uk, the finance minister kwasi kwarteng has announced the biggest tax cuts for half a century. this is the first unveiling of economic plans under the new uk government led by liz truss. among the measures, the higher rate of income tax of 45% is to be abolished. a planned rise in corporation tax from i9% to 25% has been cancelled — that's the tax businesses pay on their profits — and the rules which cap bankers' bonuses to twice their annual salary have be...