18 Oct 2022

New UK chancellor reveals latest tax plan

From Morning Report, 7:41 am on 18 October 2022

UK Chancellor Jeremy Hunt has ditched almost all of Prime Minister Liz Truss' tax cuts announced in the British government's mini-budget three weeks ago.

He announced the basic rate of income tax would remain at 20 percent indefinitely - instead of being cut - to ensure economic stability for the country.

Truss has not spoken in the Commons today leaving her Ministers and the Leader of the House to respond to a withering attack from Labour.

Some Tory MPs are saying the embattled PM's days in office are numbered.

BBC political correspondent Rob Watson spoke to Guyon Espiner.