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HomeUncategorizedThe British government backs down on tax cuts and limits energy aid

The British government backs down on tax cuts and limits energy aid

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This Monday, the United Kingdom Chancellor of the Exchequer, Jeremy Hunt, annulled almost all the tax deductions announced at the end of September by the Prime Minister, Liz Truss.

In an emergency statement, quoted by Sky News, the official, who had taken office last Friday, stated that the income tax cut will be delayed “indefinitely” until the country’s finances improve, instead of being introduced in April 2023 as stipulated in the ‘mini-budget’ of former Minister Kwasi Kwarteng.

Likewise, Hunt announced that the Government will freeze the rates of electricity and gas for homes only until April, and not for two years as previously promised.

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