#AceDailyNews says here are today’s Newspaper Headlines: Economy in Recession says BOE as Chancellor hits ‘ Growth Button ‘ with ‘ Tax Cuts ‘ for everyone he says but it ‘ Rich Getting The Meat While Poor Will Get The Gravy ‘ if there is any left on the plate after the ‘ Gluttons Have Finished ‘ filling there faces Kindness & Love XX says 🙏🙏’s ‘ For Poor In Heart ‘ Amen
Many of the the front pages are looking ahead to the government’s mini-budget today.
“The biggest tax cuts for thirty years” is the headline in the Daily Mail, which says the plans aim to “drive down taxation, tackle high energy bills and curb inflation”.
According to the Guardian, among the 30 measures will be “new investment zones and an acceleration of infrastructure projects”.
The Financial Times says the cap on bankers’ bonuses will also be scrapped. While the Independent says environmental protections will be “torn up in huge swathes of the UK”.
The Daily Telegraph reports Chancellor Kwasi Kwarteng will also announce two “rabbits out of the hat”, although it gives no more details. The Daily Mail speculates one could be a “1p cut in the basic rate of income tax next year”.
“Tax cut bonanza in bid to stop the economic rot” says the front page of the Times. Sources have told the paper the chancellor’s tax cuts could cost £50 billion. It described the plans as a “gamble”.
But the Sun declares the changes will “boost the economy and make people better off within six weeks”. The Daily Mirror’s verdict is that it will be “a good day for the rich in the UK”.
In the Financial Times, Labour’s shadow chancellor Rachel Reeves has criticised Prime Minister Liz Truss’s economic plans, writing that her approach “is discredited and inadequate, and will not unleash the investment she claims”. She says that “what the government is proposing is just another zigzag on a path of policy failure”.
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