IR35 reforms junked and tax cuts ditched in new chancellor’s £32bn mini-budget climbdown

By Daniel Gayne2022-10-17T11:07:00

Source: Shutterstock

More details on off payroll rules set to be announced later this afternoon

Jeremy Hunt has junked almost the entirety of his predecessor’s controversial plan for growth, just days after coming into office.

Only the planned cut to stamp duty and the reversal of the recent rise in national insurance survived the new chancellor’s knife, with plans to reform IR35 and cut corporation and income tax shelved and the energy price guarantee reduced in scope. Hunt said the moves would raise an extra £32bn per year.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community