HUNT TEARS UP PLANS ON TAX AND ENERGY

CHANCELLOR RACES TO 'SAVE' ECONOMY IN EMERGENCY STATEMENT

CASH HELP FOR SOARING FAMILY GAS BILLS UNDER REVIEW FROM APRILHOW

1p INCOME TAX CUT SHELVED UNTIL UK FINANCES ALLOW IT

LONG HOPED-FOR VAT-FREE SHOPPING FOR FOREIGN TOURISTS AXED

CUTS IN NATIONAL INSURANCE AND STAMP DUTY HERE TO STAYANY

Nicholas Cecil, David Bond, Rachael Burford and Jonathan Prynn

JEREMY HUNT axed a series of tax cuts today and signalled that the energy support package will be more targeted next year as he raced to save Britain from further economic mayhem.

In an emergency statement, the new Chancellor ripped up large parts of the "Kamikwasi" mini-budget with a blitz of U-turns as Liz Truss battled to remain Prime Minister. Rushing to calm markets, Mr Hunt said: “Growth requires confidence and stability and the United Kingdom will always pay its way. This Government will therefore take whatever tough decisions are necessary to do so.” He announced: 

⬤ A review of the energy support scheme for households, as well as businesses, from next April which is set to make it more targeted. While less-welloff families are expected to still be protected, other households could see their bills rise sharply.

⬤ An indefinite delay to the 1p cut in the basic rate of income tax, which was due to be introduced in April. The timing of the cut will now depend on the state of Britain’s finances.