Kwasi Kwarteng denies his mini-budget is 'a gamble'

Kwasi Kwarteng has rejected the suggestion that his tax-slashing mini-budget announced in the House of Commons earlier today (23 September) is a "gamble."

The chancellor remarked, instead, that what "is a gamble" is "thinking that you can keep raising taxes and getting prosperity, which is clearly not working."

Speaking during a visit to Berkeley Modular Housing Factory in Kent, Mr Kwarteng said the tax situation before his announcement was "completely unsustainable."

Income tax was cut across the board, with the 45 per cent rate for earners over £150,000 axed, with the basic rate also reduced by one per cent.

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