Chancellor Kwasi Kwarteng has outlined a series of tax cuts and economic measures in a massive shake-up of the UK’s finances.

In a bold statement, the Chancellor is hoping that massive borrowing alongside tax cuts will kick-start the economy and provide relief to millions of hard-working families as the cost of living crisis continues to bite.

Here, our Partners and Senior Managers share their reaction to today’s announcements.


Lucy Orrow - Lambert Chapman Senior Tax ManagerLucy Orrow – Senior Tax Manager:

“Overall, it is the Government’s plan to boost the economy but they will have to borrow more to fund these savings.  We have to wait and see whether this provides relief in the long-term.”


Mike Carabine - Lambert Chapman Senior ManagerMike Carabine – Senior Manager:

“if you hadn’t lived through the surreal last month or so, you would assume that when Liz Truss became Prime Minister on 6 September she had succeeded in throwing out a Labour Government, rather than it being as a result of Blue-on-Blue action.”




Nick Forsyth Lambert ChapmanNick Forsyth – Managing Partner:

“If this statement from the Chancellor is deemed to be “mini” then heaven help us when he comes to making a major statement!”




Graham McNeill - Lambert Chapman PartnerGraham McNeill – Partner:

“was this budget for growth or to try and limit the effects of an impending recession?”




Sean Lambert Chapman Lambert ChapmanSean Wiegand – Partner:

“So on the face of it, good for everyone in the short term, unless you are about to buy some dollars to go on holiday…”




Craig Weavers - Lambert Chapman Senior ManagerCraig Weavers – Partner:

“At a time where costs are increasing with the high inflation, focus will be on preventing balance sheet values from falling.”




Paul Short - Lambert Chapman PartnerPaul Short – Partner:

“I would also like to see changes to the pension regime which currently prevents people putting as much as they would like into their pot.”





Lambert Chapman home banner

Posted by Lambert Chapman LLP

The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.

Lambert Chapman Chartered Accountants

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

By submitting your details you agree to receive email marketing from Lambert Chapman and have read and understood our Privacy Notice. You can withdraw your consent or change your preferences at any time by emailing us or by clicking the link at the bottom of every email we send you.

You have Successfully Subscribed!