What can we expect from Friday’s mini-budget?

The chancellor is likely to announce a raft of tax cuts to try to stimulate growth

Kwasi Kwarteng
Kwarteng’s announcement on Friday will be unlike a normal budget
(Image credit: Rob Pinney/Getty Images)

The government is set to announce a mini-budget on Friday to help ease the UK’s deepening economic crisis.

The new prime minister, Liz Truss, reaffirmed her economic strategy while on a trip to the United Nations in New York this week, saying that “lower taxes lead to economic growth, there is no doubt in my mind about that”. But she has already faced criticism for urging other world leaders to join her in cutting taxes. US President Joe Biden said on Wednesday that he was “sick and tired of trickle-down economics”.

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Richard Windsor is a freelance writer for The Week Digital. He began his journalism career writing about politics and sport while studying at the University of Southampton. He then worked across various football publications before specialising in cycling for almost nine years, covering major races including the Tour de France and interviewing some of the sport’s top riders. He led Cycling Weekly’s digital platforms as editor for seven of those years, helping to transform the publication into the UK’s largest cycling website. He now works as a freelance writer, editor and consultant.