RE: 11am17 Oct 2022 12:24
''BREAKING
Almost all tax measures in mini-budget reversed - Hunt
The chancellor is reversing almost all tax measures announced in the growth plan three weeks ago that have not started parliamentary legislation, he has just said in a video statement.
The reason he is announcing these measures is to provide confidence and stablility but he will provide more details in the Commons later, Hunt said.
"We will continue with the abolition of health and social care levy and the stamp duty changes," he said.
"We will no longer be proceeding with the cuts to dividend tax rates, the reversal of off-payroll working reforms, the new VAT-free shopping scheme for non-UK visitors or the freeze on alcohol duty rates."
The health and social care levy was to be funded by a rise in National Insurance payments of 1.25%.
The government already scrapped that tax rise and it looks like one major part of the mini-budget being retained''.