Mini budget 2022: Millions to have taxes cut next Friday in boost for hard-working Brits facing cost of living crisis | The Sun

LIZ Truss will announce millions of pounds worth of tax cuts in a boost for hard-up Brits next Friday.

The new PM will reveal her hotly anticipated "mini budget", which aims to keep more money in the pockets of hard working Brits.

The Health and Social Care Levy is set to be scrapped, along with a planned rise in corporation tax next year.

At another separate point next week the PM will also give more details about the £150 billion energy bill bailout, with businesses waiting on tenterhooks for more information about how to access the desperately-needed support.

But insiders say that there is no need for emergency laws to implement the mammoth package, and energy firms will sign contracts with the Government instead.


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The PM is also said to be looking at other measures to ease the cost of living crisis and turbocharge the economy.

Last week, the government announced multi-billion package to save typical Brits £1,000 by protecting them from crippling global gas costs. 

Bills were set to rise to £3,500 in October and more than £6,000 next April in a terrifying prospect for most households. 

However in a mammoth intervention – which could cost more than furlough – Ms Truss is now going to cap costs from October 1, with the typical family paying no more than £2,500.

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Under the plan to cap wholesale costs ministers estimate a family in a detached house will spend no more than £3,300, a semi-detached £2,650, a bungalow £2,450 and a flat £1,750.

Before Friday's mini-budget Ms Truss will travel to America to join world leaders for the United Nations General Assembly summit in her first major overseas trip in Downing Street.

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