He's fearful about the measures
Consumer expert Martin Lewis described Chancellor Kwasi Kwarteng's mini-budget as 'staggering'. And says he's fearful if it doesn't work out as planned.
From April, the 629,000 earners getting more than £150,000 a year will no longer pay the top income tax rate of 45% and will instead pay the 40% applicable to those on over £50,271. And he brought forward the planned cut to the basic rate of income tax to 19p in the pound a year early to April. But shadow chancellor Rachel Reeves said the strategy amounts to an "admission of 12 years of economic failure" under successive Conservative governments. The Labour MP described the Prime Minister and Mr Kwarteng as "two desperate gamblers in a casino chasing a losing run".
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