When is a tax cut not a tax cut? One adviser's take on the Mini Budget

IFA Scott Gallacher shares his thoughts on 'cutting' taxes

clock • 2 min read

While the Mini Budget is an aggressive tax-cutting fiscal event, it doesn’t necessarily mean most people will see more in their pockets next year than they had this year, writes Scott Gallacher

Facing a general election in a couple of years and being behind in the polls, the new government need to pull a giant rabbit out of the hat. And they need to pull it out quickly. Hence, we have today's aggressive tax-cutting budget from the new chancellor. Of course, most taxpayers will welcome those tax cuts in the short term. Faced with a cost-of-living crisis, and rising interest rates, hard-working families will take all the help they can get. HM Treasury's Twitter account quickly tweeted the income tax cut from 20% to 19% for workers across England, Wales and Northern Ireland. Of...

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