Mini-budget 2022: The key announcements
The basic rate of income tax will be cut to 19p in the pound from April 2023.
The 45% higher rate of income tax is to be abolished.
April's National Insurance hike of 1.25 percentage points is to be reversed from 6 November.
Planned duty rises on beer, cider, wine and spirits cancelled.
Stamp duty to be cut from today. Nothing will be paid for first £250,000 of property's value (currently £125,000). The threshold for first-time buyers is to be increased from £300,000 to £425,000. The value of the property on which first-time buyers can claim relief is to also go up from £500,000 to £625,000.
Household bills to be cut by an expected £1,400 this year with aid from energy price guarantee and £400 grant. The most vulnerable households will receive additional payments, taking their total savings this year to £2,200.
The EU-era cap on bankers' bonuses is to be lifted as part of efforts to "reaffirm" the UK's status as a financial services hub.
Planned rise in corporation tax to 25% next year is cancelled, meaning the UK will have the lowest rate of corporation tax in the G20.
New legislation to require trade unions to put pay offers to a member vote so strikes can only be called once negotiations have fully broken down.
Plans to cut taxes for businesses in designated sites for 10 years to support investment, jobs and growth.
New legislation will cut barriers and restrictions to building new roads, rail and energy infrastructure.
Universal Credit Claimants who earn less than the equivalent of 15 hours a week at National Living Wage, 120,000 people, will be required to meet regularly with their Work Coach and take active steps to increase their earnings or face having their benefits reduced. Aim is to reduce vacancies in economy.
VAT-free shopping for overseas visitors.
Changing regulations to increase investment by pension funds into UK assets, benefiting savers and boosting economic growth, and incentivising investment into Britain's science and tech companies.
Tax relief for businesses on plant and technology investment to remain at £1m permanently, rather than letting it return to £200,000 in March 2023.
