Treasury deletes misleading claim about benefits of Kwasi Kwarteng’s budget

Claimed benefits for average earner would need someone to have a wealth of over £400,000

Chancellor of the Exchequer Kwasi Kwarteng speaking to the media ahead of the Conservative Party annual conference at the International Convention Centre in Birmingham. Picture date: Monday October 3, 2022 (Aaron Chown/PA) (PA Wire)

The Treasury has deleted a misleading claim about the supposed benefits of Kwasi Kwarteng’s budget for average earners.

The chancellor’s department had claimed someone on £30,000 a year could save around £12,700 from the package of measures if they were buying a “typical” terraced house in London.

But it emerged that someone applying for an ordinary mortgage would need to have a deposit of around £440,000 in order to benefit.