Pound plummets as UK government announces biggest tax cuts in 50 years

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Published 2022-09-23
Don't call it a budget - but it is the biggest budget intervention we've seen in decades, largely at odds with what twelve years of Conservative Chancellors have told us.

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The Office of Budget Responsibility was stopped from publishing forecasts it had been working on, so the test of whether it is responsible was largely left to the financial markets.

The Chancellor claims he's unleashing "the power of the private sector".

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All Comments (21)
  • @YuureiInu
    What a time to be alive for the banksters - tax cuts and bonuses bigger than your entire family will earn in their lifetime.
  • @an1rb
    "Borrowing your way out of inflation is not a plan, it's a fairy tale" - Rishi Sunak
  • @cuddyb9631
    Thanks, I'm from the UK and all of what's been said is true. People are going through tough times and there is a difficult winter ahead. The biggest problem here is the gas and electric bill's have gone up 400% . Will be sharing this video with friends and families to help them realize and prepare. With inflation currently at about 10%, my primary concern is how to maximize my savings/retirement fund of about £300k which has been sitting duck since forever with zero to no
  • @lauralishes1
    Didn't think I could get anymore disgusted in this government. Absolutely vile
  • @SA-ff9uc
    Hilarious. We go from Cameron to May to Johnson to something unexpectedly even worse than all 3 combined.
  • "Its extremely expensive being poor" ah a kernel of truth.
  • Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
  • Dear God, just when I was convinced that there could be no worse PM than Boris
  • People should be able to sue the government for negligence and damages to mental health.
  • What about people like me who don't want a high skill high pay job? I just want to live my life without having to worry all the time, I don't need fancy cars or houses I just need a roof over my head and the knowledge that I won't starve. Who is going to work in supermarkets? Who's going to do the cleaning? Why do we all need to have high skill jobs???
  • Rishi predicted this - Lesson, When a Indian talks about numbers- don’t doubt it.
  • So sad that lady saying “I don’t have expectations any more.” People have been so beaten down by this government they’re literally losing the will to live.
  • A chancellor so inept all he has to do is wake up in the morning to collapse the pound.
  • @DoubleA115
    The blind leading the blind. The UK Goverment's and BOE for the last 15 years have been fing stupid to keep the interest rate so low. Borrowing MAX'D out. House price's through the roof. Total Madness. The young in the UK are getting bum'd. And now KK, what a joke!
  • Very well articulated; I wish I had more time for trial and error, but I'll be 56 in October and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have a portfolio of at least $500k at the age of 60.
  • @bethburn3237
    Wow, as a Canadian, it’s hard to keep watching the UK punch itself in the face to stop a nose bleed. The UK is doing much worse than comparable countries now & the economic outlook is grim. I have family there- I don’t want to see the country continue to unravel. I would be protesting, calling every MP. I would be afraid & I pray the people get it’s act together & protest their discontent. Their future is on the line.
  • @ZiggyMercury
    Finally, a government that takes from the poor and gives to the rich. Oh, and does that with a smug smile on its face.
  • my heart goes out to that old lady. articulated soo well her emotional state.
  • @But2Star
    China, Russia and India : Its the perfect timing to colonise the Great Britain.