Posted on: 27/09/2022
On 23rd September 2022, the Chancellor of the Exchequer Kwasi Kwarteng delivered a set of economic policies, a mini-budget.
In the backdrop of a cost-of-living crisis, the mini-budget is designed to boost economic growth through tax cuts. The package, worth £161 billion, represents the biggest tax cuts in the UK since 1972. On 21st September ahead of the budget and having previously announced plans to cap the price of household energy bills for two years, the UK Government announced a scheme that would freeze wholesale gas and electricity prices for businesses for six months from 1st October 2022.
We have put together the key points for businesses at a glance below:
Tax and duties
Work and investment
Infrastructure and investment zones