LIZ Truss today unleashed the biggest tax cuts bonanza since the 1970s to make millions of Brits better off within weeks.
Chancellor Kwasi Kwarteng unveiled a bumper “mini-Budget” where he slashed national insurance, income tax and stamp duty.
The triple-whammy spree was followed by a freeze on alcohol duty so the hefty levies on booze will not rise with soaring inflation.
And Mr Kwarteng altogether abolished the top 45p rate of income tax and scrapped the planned hike in corporation tax.
Benefit claimants will also face tougher penalties for failing to look for work as ministers aim to plug record job vacancies.
Laying out his “new era for Britain”, the Chancellor said his tax cuts bazooka would “turn the vicious cycle of stagnation into a virtuous cycle of growth”.
But the £45billion tax bonfire – that comes on top of the £60billion energy package – is a huge gamble as Ms Truss goes for broke on her mission to get economic growth.
Read our Mini Budget 2022 live blog below for the latest…