Will the most ambitious growth plan in recent memory succeed or
just leave a black hole in public finances?
A summary of tax measures announced or confirmed at the 2022
September 'Mini Budget'
At the time of the 2022 Spring Statement, it was envisaged that
the main tax event of 2022 would be an Autumn Budget. Since then,
the direction of travel has changed radically, with the new
Chancellor Kwasi Kwarteng using today's 'Mini Budget'
(officially named "The Growth Plan 2022") to launch the
Government's new agenda and response to the challenges posed by
the energy and general economic crisis.
In an almost complete break with the previous Government's
tax policies, the Chancellor announced and confirmed record tax
cuts today, including the surprise removal of the 45 per cent top
rate of income tax from April 2023.
