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of 25% in corporation tax, the amount companies pay on their profits, has been scrapped and will remain at 19%. and the cap on bankers bonuses, which limited them to twice the salary level, is also being axed. the chancellor said it was a new approach for a new era, focused on growth but labour called the government desperate gamblers in a casino, chasing a losing run. we ll have analysis and reaction as the pound falls sharply in response, but first a report from chris mason. can we afford these tax cuts? technically, this wasn t even a budget. inside that blue booklet under the chancellor s arm, the biggest tax cuts in 50 years. i now call the chancellor biggest tax cuts in 50 years. i now call the chancellor of biggest tax cuts in 50 years. i now call the chancellor of the - biggest tax cuts in 50 years. i now call the chancellor of the exchequer to make call the chancellor of the exchequer to make a call the chancellor of the exchequer to make a statement. call the chance

Corporation taxAmount companiesBankers bonusesSalary levelScottish governmentTax cutsChris masonWasn tKwasi kwartengChancellor of the exchequer