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Millions of public sector workers face a two-year pay squeeze before the general election after Kwasi Kwarteng said he would go further in cutting taxes.
The government has abandoned plans for a new spending review, despite forecasts that inflation may remain in double figures for the next year. This means that public sector workers will have real-term pay cuts before 2024 and schools and hospitals will have to make tough choices about budgets.
The chancellor announced a £45 billion package of tax cuts on Friday in a gamble for growth. The plan includes scrapping the 45p income tax rate and cutting the basic rate by 1p in the pound.
Kwarteng said yesterday that there was “more to come” on tax cuts before a budget
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