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Mini budget: how will tax cuts and stamp duty affect young adults?

By Alexander Tziamalis, Senior Lecturer in Economics, Sheffield Hallam University

UK chancellor Kwasi Kwarteng has announced a series of measures aimed at boosting the economy as the UK faces a recession and continued cost of living crisis. The budget is a political and economic gamble based on the logic that boosting consumption will bring investment and longer-term growth.

The new measures (mainly £45 billion in tax cuts, on top of an estimated £100 billion in energy…

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