Chancellor dumps almost all tax cuts announced in mini Budget - Your Money

Contributing sentiments towards policy:

56% : But just 10 days later, he said abolishing the top rate "has become a distraction", adding that the government "gets it" and "have listened" as he U-turned on scrapping the 45p rate of income tax.
54% : It would mean that IR35 workers would once again be responsible for determining their employment status and paying the appropriate amount of tax and National Insurance Contributions.
51% : The basic rate of income tax will therefore remain at 20% indefinitely."
48% : As part of Kwarteng's mini Budget, he announced the basic rate of income tax would fall from 20% to 19% as of April 2023 - a 1p cut.
48% : Meanwhile, the fact that dividend tax will not be cut alongside National Insurance will hit business owners and investors." Laura Suter, head of personal finance at AJ Bell said the announcements sound the death knell for Trussonomics, with the vast majority of her tax cutting plans now "consigned to the bin".
44% : The government added that the reversal of the National Insurance increase and the Health and Social Care Levy, and the cuts to Stamp Duty Land Tax, will remain benefitting millions of people and businesses.
41% : In a surprise move, Kwarteng announced the additional rate of tax - 45% on those earning £150,000 or more - would be abolished from April 2023.

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