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PoliticsUK’s Biggest Tax Cuts Since 1972 Trigger Crash in Pound, BondsPackage costing £161 billion is aimed at stimulating economyEconomists say measures will add to inflation and debtWATCH: Highlights of UK Chancellor of the Exchequer Kwasi Kwarteng’s announcements.Source: BloombergByPhilip Aldrick+FollowSeptember 23, 2022, 9:14 AM UTCUpdated onSeptember 23, 2022, 12:23 PM UTCFollow us at @BloombergUK and on Facebook, and wrap up your day with The Readout newsletter with Allegra Stratton.Liz Truss’s new British government delivered the most sweeping tax cuts since 1972, slashing levies on rich households and companies in a bid to boost economic growth in a move that triggered a massive market selloff in UK assets.
