t was probably the shortest tax cut in history. A little more than a week after announcing the end of the 45% top rate of tax, chancellor Kwasi Kwarteng was forced into a humiliating U-turn. In reality, he had no choice. His mini-budget had been savaged by the markets, had put Labour 30 points ahead in the polls, and was likely to be defeated by Conservative backbenchers in the House
What Truss and Kwarteng got right
Oct 07, 2022
2 minutes
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