The Chancellor of the Exchequer, Kwasi Kwarteng, has delivered his 2022 mini-budget in an attempt to address concerns surrounding the ongoing cost of living crisis.
While significant tax cuts were already predicted ahead of the crucial economic update, many people across the country may have been surprised by the sheer extent of measures announced by the chancellor across the board.
Energy
Addressing the subjects on everyone’s mind early on, Kwarteng stated that the annual price of energy for UK households will now be limited to £2,500, resulting in savings of around £1,000 against the projected figures following the most recent energy cap.
He also confirmed that the £400 energy discount is still in place, with the most vulnerable homes receiving even more in government support. Some are less than convinced that any real ‘savings’ will be made.
Earlier this week, the government announced that they would be halving energy bills for businesses over the next six months. Today he confirmed that a relief scheme will be put in place, as well as an “energy market finance scheme” which will offer liquidity to traders.
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Similar relief will be afforded to schools and charities.
Lending and inflation
The hope is that this overall energy plan will reduce inflation, which currently sits at 9.9% based on August’s figures, to 5% and see the trending rate of annual financial growth to 2.5%.
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Not only does the government believes this will lower the wider cost of living pressures but also free up finances to help better fund public services.
The overall energy relief package is said to be costing approximately £60 billion, meaning a significant amount will have to be borrowed from the Bank of England.
Bankers’ bonuses cap and corporation tax hike scrapped
On the subject of banks, one of the most controversial parts of the Kwasi Kwarteng’s update was the announcement that the cap on bankers’ bonuses will be scrapped entirely, arguing that previous measures only led to higher wages and people paying tax in other countries outside of the UK.
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Next year’s scheduled corporation tax increase from 19% to 25% is also going to be scrapped, the rationale being that “low tax encourages investment” both domestically and from overseas.
Once again, people are less than impressed that the nation’s highest-earners appear to be the ones benefiting the most from government policy.
This is a Bankers’ Budget:
– Scrapping the cap on bonuses – Slashing tax for the top 1% of earners – Cutting tax on big businesses' profits
When millions urgently need help with the cost-of-living crisis, the Tories are helping out their super-rich mates.#EnoughIsEnough
The chancellor also said that the government are committed to removing further enterprise barriers caused by EU regulation, hoping to streamline “planning restrictions” across childcare, immigration, agricultural productivity, and digital infrastructure.
He sighted energy, telecoms and travel as key problem areas hamstrung by red tape.
However, he conversely criticised the ongoing strike action across the country and said that they plan to imitate other countries by introducing legislation to ensure minimum level service resumes.
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Tax cuts
Elsewhere, businesses in nearly 40 different ‘designated zones’ have been promised tax cuts for the next 10 years and no stamp duty on new premises. Speaking of which, as of today, no payment will be required on the first £250,000 of a property’s value, with first-time buyers paying zero on the first £425,000.
In fact, it looks as though the overall tax system is set to be reviewed once again. Not only are previous corporation tax and stamp duty plans being scrapped but income tax, alcohol duty and more are all being reexamined as part of the not-so mini-budget.
Alcohol duty is set to be frozen in February, meaning that Brits can expect to save around 7p per pint, 38p per bottle of wine and £1.35 on spirits. VAT-free shopping is also due to be introduced for overseas visitors, with aim of increasing revenue from tourism.
Kwarteng also confirmed that the basic rate of income tax will be cut by 1p to 19p from April 2023, with the 45p tax rate for those earning over £150,000 will be abolished from the same time next year.
This is said to be the biggest series of tax cuts in 50 years.
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£45 billion of tax cuts. This is biggest tax cutting event since 1972. Barber's "dash for growth" then ended in disaster. That Budget is now known as the worst of modern times. Genuinely, I hope this one works very much better.
Despite the ‘real’ living wage being increased by 10% in an attempt to try and curb rising costs in almost every other walk of life, it goes without saying that the UK faces an extremely difficult period ahead as energy costs continue to rise, post-Brexit prices keep rising and we approach the ever expensive winter months.
The shadow chancellor Rachel Reeves told the Financial Times that regardless of the measures announced today, both the mini-budget and Liz Truss’ appointment as Prime Minister represents “another zigzag on a path of policy failure” rather than any real sign of change.
A local Manchester run club is holding two special running routes to see the total eclipse
Danny Jones
With the highly anticipated total eclipse fast approaching, people not just here in Greater Manchester but all over the UK, Europe and the rest of the world are gearing up to try and watch it – but this native running club are doing it a bit differently.
Eclipses occur once every 12-18 months, but this is set to be the biggest since 1999.
The moon is set to cover approximately 96-98% of the sun this coming Wednesday, 12 August, 2026, and rather than try to watch it from a window at home or drive to somewhere with supposedly ‘the best view’, local sports club Manchester Road Runners are turning it into their latest one-off event.
Sharing details online, the free-to-join local organisation, which boasts thousands of members on Facebook and various other platforms, will be timing things to make sure they catch the phenomenon.
Writing in the accompanying caption, the Road Runners say: “We’ve pulled some strings and have a very special event taking place on August 12th, a solar eclipse! Come run with us under a darkened sun next Wednesday from The Wharf at 18:30, with peak moon coverage expected at around 19:10.”
Better still, they’re also teaming up with their trail running spin-off club for an even more scenic twist on the evening excursion.
“If you prefer to experience your solar phenomena under the wide open skies”, they go on to write, “our friends over at Trail Division will be holding a hike/run off road, meet at Piccadilly Station at 18:00 to get shady in the great outdoors.”
Fortunately, they have issued an important disclaimer, going on to remind runners that “while beautiful and majestic, the sun should NEVER be directly looked at in the face unprotected”, signing off by adding, “Respect the sun, respect your peepers, stay ocularly safe out there.”
If you’ve never come across MRR before, they’re probably the biggest run club in the entire Greater Manchester region and their social-first jogs, intervals, track sessions and more revolve around meeting back up with your mates for a wholesome pint and a chat.
For many, it’s the biggest and the best in the city.
As for the eclipse run, it’s set to be a very magical variation on their usual Wednesday evening meets.
Quite rightly, they also point out in the post that you can actually buy certain glasses to view eclipses on these rare occasions, with search traffic often ramping up in and around these events.
Meanwhile, the Trail Division branch is yet to confirm the route for their run/hike, but it will most likely remain in the nearby North West vicinity; keep your eyes peeled on their social media pages (linked above) for more information and other upcoming trail events.
Speaking of trail runs, there’s a pretty beautiful albeit challenging one coming up next month…
Stunning vistas, walkers welcome, and multiple distances available.🏃♂️🥾
And the best part? It's less than 90 minutes away from Manchester. 🏞️
Oasis promoters drop biggest Knebworth hint yet after securing license around key date
Danny Jones
Not that we’re the type to get carried away, but we’ll confess that our curiosity, interest and general levels of anticipation have been piqued, as Oasis’ main promoters have recently renewed the license to host events at the infamous Knebworth.
My word, is this it? Like the reunion, is it ACTUALLY going to happen?…
We’re sure the raw, uncontrollable excitement will come should it be fully confirmed, but for now, all we know is that our colleagues in music media, SJM Concerts, have renewed the land in and around Knebworth Park and House for live entertainment once again.
Moreover, the company have also done so on a rather fitting date decades on from the original and legendary outdoor gigs.
As can be found on the planning application section of the North Hertfordshire Council website – the county in which the storied Britpop gigs took place – a fresh license to hold new events.
If/when the announcement happens, the already granted permission will allow for a capacity of up to 125,000 and a curfew of 3am.
We know the original Knebworth shows were beyond iconic, but let’s say this would be nailed on to be nothing short of absolutely box office.
Besides having also helped promote Oasis’ colossal Live ’25 reunion tour last summer, it’s also worth noting that they secured said license just over a week before the 30th anniversary of the pair of nights back in 1996: 10-11 August, to be specific.
The licence is said to have come into effect this past Saturday (1 Aug) and is believed to be indefinite.
What added even more fuel to the fire of these well-established rumours over the past year was when Baroness Sharon Taylor of Stevenage told the House of Lords the band would be playing FIVE whole nights at Knebworth in the future, before later clarifying that she was speaking in “hypothetical terms.”
All that being said, it’s fair to say we’ll be keeping a very keen eye on socials over the next few days, in particular, just in case.
The Manc has reached out to SJM for an official comment (surprise, surprise), but we are yet to receive a response regarding the matter.
Your silence speaks volumes, just saying.
This coming Monday, 10 August 2026, will mark the official 30th anniversary of Oasis at Knebworth 1996, and with the likes of ‘Wonderwall’ seeing a chart resurgence as the go-to England anthem at this year’s World Cup, we’re choosing to be optimistic. What about you?
Danny Jones -
23rd September 2022 
