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UK Chancellor of the Exchequer Brings Forward Medium-Term Fiscal Plan Measures

19 October 2022

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Proposed Changes

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United Kingdom

UK Chancellor of The Exchequer Jeremy Hunt has brought forward certain measures from the Medium-Term Fiscal Plan that will be delivered on 31 October 2022. Several of the measures reverse measures previously proposed by prior Chancellor of the Exchequer, Kwasi Kwarteng. Among other things, the Medium-Term Fiscal Plan includes suspending the 1% reduction in the basic rate of income tax (will stay at 20%), maintaining the additional rate of income tax, and maintaining the 1.25% increase in the dividend tax for individuals. However, the government is planning to move forward on some of the previously proposed measures, including the reversal...