The Chancellor Kwasi Kwarteng will present the government’s ‘fiscal event’ on Friday next week.
During the announcement he is expected to announce cuts to National Insurance and to reverse plans to hike corporation tax from 19% to 25% in April.
Reports today also suggest that he is planning to scrap the limit on bankers’ bonuses to make the City more competitive.
Bank executives can currently receive bonuses up to 200% of their salary.
