UK Chancellor Kwarteng wants to keep cutting taxes

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UK Chancellor Kwarteng wants to keep cutting taxes

The Chancellor Kwasi Kwarteng wants to keep cutting taxes as part of an effort to boost UK economic growth.

In order to address labour shortages, ministers plan to allow more migrant workers in some sectors as part of its growth strategy.

Many investors were concerned about the package, with the pound sinking against the dollar to fresh 37 year lows, and UK-listed stocks falling.

But on Sunday, Mr Kwarteng denied the measures helped the rich more, and suggested further tax cuts were on the cards.

He said that we've put more money into people's pockets. We're bringing forward the cut in the basic income tax and there's more to come.

I want to see more people retain more of their income over the next year because I believe that it's the British people that are going to drive the economy, he said.

The rural economy and the economy need to have the right skills, and we need to put in place measures to stimulate growth, according to the source.

The prime minister has made clear that we want to see people who are economically inactive get back into work. During her Conservative leadership campaign, Prime Minister Liz Truss said she would tackle farming labour shortages - partly caused by post-Brexit freedom of movement restrictions and exacerbated by the Covid epidemic - with a short-term expansion to the seasonal workers scheme.