The Growth Plan 2022

Last Friday, Kwasi Kwarteng outlined a series of tax cuts and measures aimed at boosting economic activity. His Growth Plan was built around three key priorities: reforming the supply-side of the economy, maintaining a responsible approach to public finances and cutting taxes to boost growth.

Key tax announcements included a reversal of the National Insurance contribution rise, which came into force in April and a reduction in SDLT in England and Northern Ireland, raising the residential nil-rate threshold from £125,000 to £250,000, with immediate effect.