Bloomberg Tax
Sept. 29, 2022, 2:31 PM

Kwarteng’s Tax Cuts to Deepen UK Racial Inequality (Correct)

Olivia Konotey-Ahulu
Olivia Konotey-Ahulu
Bloomberg News

The historic program of tax cuts unleashed by Chancellor of the Exchequer Kwasi Kwarteng will overwhelmingly put money in the pockets of the wealthiest White British people, according to new analysis.

Among the slew of tax policies announced last week, Kwarteng’s decision to abolish the top 45% tax rate benefits the top 1% of earners in the country, on incomes of £150,000 (($160,000) or over. More than 90% of that group is White — while other ethnic minorities are under-represented, an analysis of publicly available data by a researcher at the University of Leeds finds.

“Those at the very top differ considerably in terms of their ...

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