UK reverses bulk of September tax-cutting package to calm markets

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UK reverses bulk of September tax-cutting package to calm markets

STORY: UK reverses bulk of September tax-cutting package to calm markets DATELINE: Oct. 18, 2022 LENGTH: 00:03:03 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): JEREMY HUNT, UK Chancellor of the Exchequer 2. various of Jeremy Hunt making a speech in the parliament (Otc. 17) 3. various of London streets views STORYLINE: The United Kingdom (UK) government on Monday announced a reversal of the bulk of its September tax-cutting measures in yet another emergency action to ensure economic stability and provide confidence in its commitment to fiscal discipline. The basic rate of income tax is set to remain at 20 percent until economic conditions allow for it to be cut, Chancellor of the Exchequer Jeremy Hunt said in a statement. SOUNDBITE (English): JEREMY HUNT, UK Chancellor of the Exchequer "The government has today decided to make further changes to the mini budget and to reduce unhelpful speculation about what they are, giving an early brief summary of the changes which are all designe

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