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Cost of Kwarteng’s UK Fiscal Package Is £161B Over Five Years

Sept. 23, 2022, 9:39 AM

UK Chancellor of the Exchequer Kwasi Kwarteng’s fiscal giveaway totals £161 billion ($180 billion) over five years, according to figures disclosed in a document on the Treasury website on Friday.

The cost of the new chancellor’s policy decisions totals £19.2 billion in the current fiscal year including cost of living support announced in May, and £26.7 billion, £31.3 billion, £39.4 billion and £44.8 billion in the four subsequent years, according to the document.

WATCH: Highlights of UK Chancellor of the Exchequer Kwasi Kwarteng’s announcements.
Source: Bloomberg

READ MORE: UK Sets Out Biggest Tax Cuts Since 1972 to Boost Economic Growth

To contact the reporter on this story:
Alex Morales in London ...