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5 Things You Need To Know, Today, on Monday 26th September 2022
5. The Labour Party will unveil today its plans to set up a national wealth fund to invest in green projects which will benefit the public.
At their annual conference, Labour lawmakers are sensing a change in their fortunes, feeling they can now offer a real choice to voters after the government announced a "growth plan" that handed tax cuts to big business and the wealthiest.
4. The cost of charging an electric car has surged due to the rise in energy prices, prompting fears it will put off drivers from buying them, the RAC said.
It said electric car (EV) owners who use "rapid" public charging points were paying almost the same for electricity as they would for petrol per mile.
3. Labour would reverse the government's cut to the top rate of income tax, leader Sir Keir Starmer has said.
But Sir Keir said he supported the decision to cut the basic rate of tax from 20% to 19% as this would "reduce the tax burden on working people".
2. Chancellor Kwasi Kwarteng has said he wants to keep cutting taxes as part of an effort to boost UK economic growth.
After announcing a massive shake-up of taxation on Friday, Mr Kwarteng said there was "more to come".
1. The pound has fallen to a record low against the dollar as markets react to the UK's biggest tax cuts in 50 years.
In early Asia trade, sterling slipped just below $1.04 before regaining some ground to stand at about $1.05 on Monday morning, UK time.