Tax cuts: Kwasi Kwarteng’s measures benefit richest, Labour says
The government is taking a dangerous gamble, Angela Rayner says, but ministers argue tax cuts will get the economy growing. …
“In fact, because there was one big tax increase the chancellor didn’t reverse – and that is the fall over time in the point at which you start paying income tax. If you take that into account, in three or four years’ time, the only people gaining from this will be earning more than about £150,000 a year.”
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