from their departmental budgets as he tries to plug the remaining black hole in the government s finances, even potentially pensions. he axed most of his predecessor kwasi kwarteng s mini budget yesterday. measures he announced included a reversal of the 1p cut in income tax from 20p, which had been due to happen in april. cuts to dividend tax rates will be scrapped, along with a freeze on alcohol duty rates. mr hunt also said the planned cap on the annual cost of energy at £2,500 for a typical household will only last until april, after which a new approach will be found. let s have a listen to some of what liz truss told the bbc s political editor chris mason in last night s interview. first of all, i do want to accept
the reversal of off payroll working reforms introduced in 2017 and 2021, the new vat free shopping scheme for non uk visitors or the freeze on alcohol duty rates. secondly, the government s current plan is to cut the basic rate of income tax to 19% from april 2023. it is a deeply held conservative value, a value that i share, that people should keep more of the money that they earn. but at a time when markets are rightly demanding a commitment to sustainable public finances it is not right to borrow to fund this tax cut. so i have decided that the basic rate of income tax will remain at 20% and it will do so indefinitely until economic circumstances allow for it to be cut. taken together with the decision not to cut corporation tax and restoring
provide further details on how those rates will be upgraded. rates will be upgraded. switch off our rates will be upgraded. switch off your telephone. rates will be upgraded. switch off your telephone. it s rates will be upgraded. switch off your telephone. it s off. - rates will be upgraded. switch off your telephone. it s off. sorry, i your telephone. it s off. sorry, chancellor. your telephone. it s off. sorry, chancellor. i your telephone. it s off. sorry, chancellor. iwill your telephone. it s off. sorry, chancellor. i will provide - your telephone. it s off. sorry, l chancellor. i will provide further details on how alcohol duty rates will be upgraded shortly. 2nd, the government is currently committed to cutting the basic rate of income tax to i9% cutting the basic rate of income tax to i9% in april of 2023. it is a deeply held conservative value, a value that i share that people should keep more of the money they earned, which is why we have continued with the abolitio
centres airports and ports and shopping centres to feel the economic benefit centres to feel the economic benefit. we have decided to reduce vat shopping for overseas visitors. we will vat shopping for overseas visitors. we will replace the old paper based system we will replace the old paper based system with a modern digital one and this will system with a modern digital one and this will be system with a modern digital one and this will be in place as soon as possible this will be in place as soon as possible. this is a priority for our great possible. this is a priority for our great british retailers so it is our priority great british retailers so it is our priority as great british retailers so it is our priority as well. our drive to modernise also extends to alcohol duties modernise also extends to alcohol duties i modernise also extends to alcohol duties. i have listened to industry concerns duties. i have listened to industry concerns about the ongoing