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LONDON: UK treasury chief Jeremy Hunt on Monday reversed most of an economic package announced by the government just weeks ago, including a planned cut to income tax.
In a bid to soothe turbulent financial markets, Hunt said he was scrapping “almost all” the tax cuts announced last month and signalled public spending cuts are on the way.
Hunt said a planned 1 percentage point cut to the basic rate of income tax that had been due to take effect next year won’t happen.
He also scaled back…
In a bid to soothe turbulent financial markets, Hunt said he was scrapping “almost all” the tax cuts announced last month and signalled public spending cuts are on the way.
Hunt said a planned 1 percentage point cut to the basic rate of income tax that had been due to take effect next year won’t happen.
He also scaled back…
