New Chancellor Hunt Reverses Tax Cuts and Long-Term Support For Energy Bills

Check out my new training to help you get control of your finances and learn how to build real wealth in 28 days! Click to join: https://bit.ly/3isugCr

Newly appointed Chancellor, Jeremy Hunt MP, has ripped up his predecessor’s doomed mini budget after replacing Kwasi Kwarteng MP on Friday. 

Wholesale government borrowing interest rates have stabilised after Mr Hunt steadied the ship and restored confidence in the ‘markets’, which have now factored in an interest rate peak next May of just over 5%.

SCRAPPED

INCOME TAX 

Jeremy Hunt ditched the plan to cut the basic rate by 1p from April.

Planned cut to corporation tax.

ENERGY BILLS

The typical household energy bill has been capped at £2,500 for the next two years.

The 'guarantee' policy was estimated to cost the government over £100billion. 

Now expected to be overhauled, with help targeted on the poorest after April.

DUTY-FREE SHOPPING FOR TOURISTS 

EASING IR35 RULES FOR SELF-EMPLOYED

DIVIDEND TAX CUT 

REMAINING

STAMP DUTY

Stamp duty was abolished under £250,000 at the mini-Budget, with first-time buyers exempt on up to £425,000.

That has already taken effect, and Mr Hunt said it will stay in place.

NATIONAL INSURANCE

The government promised to reverse the increase to National Insurance.

FINANCIAL EDUCATION FOR FINANCIAL FREEDOM

Whatever you do, don’t do ANYTHING unless you are financially educated.

Question: What can you do to change the economy, market or government policy?

Answer: Nothing!

Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

Answer: EVERYTHING!

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your finances and learn how to build real wealth in 28 days!

Click to join: https://bit.ly/3isugCr

 

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage #jeremyhunt #tax