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Mini budget: 'It's a very good day for the UK', says Chancellor Kwasi Kwarteng

The growth plan outlined by the chancellor to lift the UK from the depths of the cost of living crisis and back to prosperity has been met with horror on financial markets, with the pound taking a hammering late in the day.

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Income tax will be cut by one penny, Chancellor Kwasi Kwarteng has announced, as part of a raft of measures aimed at boosting economic growth.
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