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Tax Cuts Underway In Britain
Description
The British government announced a sweeping plan for tax cuts, the largest in five decades, to slow down inflation. U.K. Chancellor of the Exchequer Kwasi Kwarteng announced that the government would cut payroll taxes, freeze corporation tax, and remove a cap on bonuses for bankers, in addition to subsidizing energy bills over the next two years. The value of the British pound dropped to $1.10, hitting a 37-year-low.
Keywords & Tags
#inflation
#economics
#business
#taxes
#tax
#recession
#economic recovery
#economists
#government
#economic growth
#British pound
#U.K.
#Britain
#economic outlook
#Tax Cuts
#Slow Inflation
#British government
#U.K. Chancellor of the Exchequer Kwasi Kwarteng
#payroll taxes
#freeze corporation tax
#bankers
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