The new chancellor Kwasi Kwarteng has set out the government's spending plans for the next few months. Mr Kwarteng was given the role of chancellor when Liz Truss became prime minister, and his new job means he's responsible for how the UK government spends money. Once a year, the government writes a document called a budget which explains how it will spend its money, but this 'mini' one has been announced to help tackle the cost-of-living crisis. Mr Kwarteng said that plans to help households and businesses with rising energy prices will cost up to £60 billion over six months. To afford this, the government plans to borrow money rather than raise it through tax. The chancellor's plan revealed some of the biggest tax cuts in 50 years. Some people are happy with what the government are doing, and say that making people pay less tax will help prices go down. People who disagree say they are worried about how the governments borrowing will be paid for.
