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THE Mail on Sunday revealed Kwasi Kwarteng’s plan to cut income tax five days before the Chancellor stood up in the Commons, correctly anticipating the fast-tracked 1p reduction in the basic rate of income tax from 20p to 19p in the pound.

Our sources also revealed that the Chancellor was ‘planning a ‘knock-out surprise measure’ – described as a ‘proper rabbit out of the hat moment’. As MPs discovered during the statement on Friday, this was the abolition of the 45p top rate of tax.