New chancellor Jeremy Hunt has shredded nearly all of former chancellor Kwasi Kwarteng’s mini-budget, with almost every one of his announced tax cuts now scrapped, along with the government’s previous plans to cap rising energy prices.
The Air Travel Trust underwrites the Atol scheme (Credit: Andre Taissin / Unsplash)
In an emergency statement, Hunt, who only took on the role on Friday, went further than many had expected. Here’s what the reversal of the mini-budget means for you:
The reversing of the 1.25% National Insurance rate is one of the rare elements of the mini-budgets to be retained, which means from 6 November, consumers should have more money in their pockets to spend on holidays ahead of the peak booking season.
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