MARTIN Lewis calls Kwasi Kwarteng’s Mini Budget “staggering” in his assessment of the government’s latest annual accounts.
The MoneySavingExpert said he really hopes the plans will work.
Echoing the Chancellor’s mini-budget, Martin tweeted: “That was a really staggering statement from a Conservative Party government.
Huge new loans and tax cuts at the same time.
“It’s all aimed at growing the economy. I really hope it works. I’m really worried about what will happen if it doesn’t work out.”
His judgment comes after the Chancellor announced a whole host of tax cuts, stamp duties and corporate taxes.
Millions of households will save hundreds each year after government confirms reduced to national insurance contributions.
The move will save workers an average of £135 a year in 2022, rising to £330 in 2023-24.
We have the the exact amount to which your wages go in November when the increase is scrapped.
Millions of households will also save hundreds a year after the government confirms a 1 pence cut in the basic income tax rate.
The government estimates that the income tax cut will save an average of £170 next year.
Other measures introduced include: