Small Business Growth

Mini budget: Kwasi Kwarteng to announce tax cuts and bills support [Video]

Urgent plans to ‘break the cycle’ of the country’s spiralling economic crisis will be announced today.

Kwasi Kwarteng will address the House of Commons at 9.30am.

The new Chancellor is due to announce tens of billions of pounds both of increased spending and of tax cuts in his mini-budget.

Mr Kwarteng will pledge to ‘turn the vicious cycle of stagnation into a virtuous cycle of growth’ as he sets out to tackle the economic ramifications of the living cost crisis.

Just yesterday, the Bank of England warned the country had already fallen into a recession, as interest hikes hiked to 2.25 from 1.75.

This morning’s statement is expected to include details of how the Government will fund the energy price cap for households and businesses, and put into practice many of Prime Minister Liz Truss’s tax-slashing promises.

Mr Kwarteng is expected to tell the House of Commons: ‘Growth is not as high as it needs …

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Small Business Growth

HSBC Sees Bank of England Hiking Bank Rate to 4.25% by 1Q 2023 - Video

Janet Henry, global chief economist at HSBC Holdings Plc, discusses the state of the UK economy and Bank of England's policy. She also talks about rising inflation in European economies, the implications for European Central Bank policy, and the growth outlook for China. She speaks with Yvonne Man and David Ingles on