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Kwarteng Says There’s ‘More to Come’ After UK Tax Giveaway (3)

Sept. 25, 2022, 1:42 PM

UK Chancellor of the Exchequer Kwasi Kwarteng pledged further tax cuts in his pursuit of growth after unveiling the biggest fiscal giveaway in half a century.

Kwarteng’s package on Friday scrapped the top level of income tax and cut the basic rate by a percentage point, while also reversing a rise in the National Insurance payroll tax brought in earlier this year.

“There’s more to come,” Kwarteng said on Sunday in a BBC television interview. “We’ve only been here 19 days. I want to see, over the next year, people retain more of their income, because I believe that it’s ...