2022 Mini Budget - the economic picture

Within his Mini Budget speech, Chancellor Kwasi Kwarteng outlined his vision for a 'new era for Britain' which will focus on driving economic growth.

23 Sep 2022

Within his Mini Budget speech, Chancellor Kwasi Kwarteng outlined his vision for a 'new era for Britain' which will focus on driving economic growth.

The Mini Budget is unique in that it was not accompanied by the publication of an economic forecast by the Office for Budget Responsibility (OBR). According to reports, the Treasury received a draft forecast from the OBR but refused to publish the document.

The Chancellor used the speech to announce a new Growth Plan with the 'biggest package of tax cuts in generations'.

The Growth Plan tackles soaring energy costs to help bring down inflation and sets an 'ambitious' target for a 2.5% trend rate of growth. It also introduces new Investment Zones which aim to 'bring business investment and release land for new homes in communities across the country'. Each Zone will offer targeted and time-limited tax cuts for businesses.

Commenting on the Growth Plan, the Chancellor said: 'The tax cuts and reforms I've announced...  – the biggest package in generations – send a clear signal that growth is our priority.

'We want businesses to invest in the UK, we want the brightest and the best to work here and we want better living standards for everyone.'

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2024 Blue Spire Limited (Brighton). All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Blue Spire Limited (Brighton) are Accountants in Brighton.

Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com


Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK