the new chancellorjeremy hunt scraps most of last month s controversial mini budget, ditching the promise of a 1p cut in basic income tax while help with energy bills will only last til april. the chancellor s emergency statement was designed to calm turmoil on the financial markets. early reaction there has been positive. the head of the metropolitan police says hundreds of his officers should have been sacked for gross misconduct. civilians rescued in the ukrainian capital after an attack by russian kamikaze drones. scotland s first minister nicola sturgeon has set out her economic argument for leaving the uk including plans to move to a scottish currency when the time is right
does go through some of the options on the table. already we are heeding that there is the risk some taxes will go up. so in calming the markets, there is every indication that for the public, it is going to cost. , , . ., cost. yes, very much though. there is also a warning cost. yes, very much though. there is also a warning that cost. yes, very much though. there is also a warning that interest - is also a warning that interest rates might have to go up further as well from the bank of england. you know, it is a tough time for everybody and i thinkjeremy hunt has got his work cut out for him. also 31st october, halloween, to convince everybody he is in fact the coming hand on the tiller. and convince everybody he is in fact the coming hand on the tiller. coming hand on the tiller. and any dela in coming hand on the tiller. and any delay in the coming hand on the tiller. and any delay in the 1p coming hand on the tiller. and any delay in the 1p cut coming hand on the tille
take charge after turmoil the past - couple of weeks. of course couple of weeks. annabel? of course the three things couple of weeks. annabel? of course the three things they couple of weeks. annabel? of course the three things they are couple of weeks. annabel? of course the three things they are pulling - the three things they are pulling out there, the chancellor postponed that 1p cut in tax cut chancellor postponed that 1p cut in tax cut it chancellor postponed that 1p cut in tax cut. it was announced by rishi sunak. tax cut. it was announced by rishi sunak. liz tax cut. it was announced by rishi sunak, liz truss decided to bring forward sunak, liz truss decided to bring forward by sunak, liz truss decided to bring forward by a year, but, no, sunak, liz truss decided to bring forward bya year, but, no, it sunak, liz truss decided to bring forward by a year, but, no, it has been forward by a year, but, no, it has been pushed back to 2024, which i do nothing will
energy intervention, reducing people s bills, the amount they are going to pay, the 1p cut in the basic rate, the fact that we are not going ahead with the national insurance. the wider package, john. riff insurance. the wider package, john. , , insurance. the wider package, john. , ., ., john. of course it is part of a wider package. john. of course it is part of a wider package, but - john. of course it is part of a wider package, but this - john. of course it is part of a | wider package, but this ozaki john. of course it is part of a - wider package, but this ozaki part wider package, but this 0zaki part of that package, it has had a huge amount of attention, and just dropping it now this morning is a massive deal, and a huge story, do you now admit that it was a mistake? what i admit was that it was a massive destruction on what was a strong package. riff massive destruction on what was a strong package- strong package. of so, a mistake? and the energy strong package. of so,
we are cutting taxes for working people. that s why we will reverse the national insurance hike on the 6th of november, and that s why we will bring forward the 1p cut to the basic rate of income tax by one year. that s why we will take 200,000 people out of paying stamp duty altogether. taken together, this is what our support will do for all our people. thanks to our energy intervention, a typical person in a semi detached property will save £1150 on their energy bills this winter. on top of the £400 discount. and if they are earning an average salary, they will benefit from an additional tax cut of around £400. that is almost a £2000 saving this year alone. that is almost a £2000 saving this yearalone. but that is almost a £2000 saving this year alone. but i can be frank. i know the plan put forward only days ago has caused a little turbulence.