Mini-budget: Internet reacts as Kwasi Kwarteng cuts taxes for mega-rich

The new chancellor, Kwasi Kwarteng, has just announced the government’s plans to restructure the economy with a so-called “mini-budget”.

Alongside widespread plans to remove the cap on banker bonuses and lower stamp duty, the government will also scrap the top tax rate entirely – meaning someone making £50,000 will pay the same marginal tax rate as someone making £200,000. Meanwhile, Kwarteng also threatened to cut benefits to “make work pay.”

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It has been branded a trickle-down economy, using tax cuts to spur growth. After 12 years of conservative governments, Kwarteng declared: “We are at the beginning of a new era.”

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Of course, the decision to lower taxes on the highest earners has provoked a select few reactions on the internet. Here are the best.

They really blew the doors off

Half past nine is really too early for that

It took Kwarteng… a while to get to the budget

It was probably just parliamentary etiquette that stopped Rachel Reeves from reacting in this way

The mini-budget was an economic dream for many conservatives

As a kid, the top of my Christmas list was always: “Now that’s what I call conservative think tank brochures 1975-2022”

You ask yourself: why bother?

At least the mini-budget has some unexpected winners

But just as likely, many losers


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