Chancellor Kwasi Kwarteng is set to host a Downing Street press conference to explain the mini-Budget plans to the nation.
He is expected to deliver on newly elected Prime Minister Liz Truss’ pledged to reverse Aprils National Insurance hike as imposed by his predecessor Rishi Sunak from November 6, and it is anticipated that he will also scrap a planned hike in corporation tax next Spring.
It is anticipated that Mr. Kwarteng will also outline the multi-billion pound cost of energy support plan, while Stamp Duty and limits on banker’s bonuses could also be slashed significantly.
Ms Truss and her Chancellor are also expected to launch a new crackdown on benefit claimants, forcing more employed people to search frivoulously for extra hours or be hit with DWP sanctions.
You can follow live updates from Kwasi Kwarteng’s statement in the Commons from 9.30am today.