The Chancellor has announced that the 45p additional rate of income tax will not be removed from 6 April 2023 as proposed in the 23 September mini-Budget, describing the proposal as a ‘distraction’ from the UK government’s ‘overriding mission to tackle the challenges facing our country’.
In his speech to the Conservative Party conference, Chancellor Kwarteng also announced his intention to bring forward his ‘medium-term fiscal plan’, setting out plans for spending and managing the UK’s debt. That plan will be delivered ‘shortly’ (although no specific date was given) rather than on 23 November as previously announced.
The Chancellor has announced that the 45p additional rate of income tax will not be removed from 6 April 2023 as proposed in the 23 September mini-Budget, describing the proposal as a ‘distraction’ from the UK government’s ‘overriding mission to tackle the challenges facing our country’.
In his speech to the Conservative Party conference, Chancellor Kwarteng also announced his intention to bring forward his ‘medium-term fiscal plan’, setting out plans for spending and managing the UK’s debt. That plan will be delivered ‘shortly’ (although no specific date was given) rather than on 23 November as previously announced.
