Today’s mini budget has been described as “the most irresponsible budget I have ever seen” by a mid Wales politician.

Responding to the Government's, the Welsh Liberal Democrat leader attacked the plans announced today as “a hideously out-of-touch budget designed to benefit the mega rich at the expense of ordinary citizens”.

Commenting Jane Dodds MS said: “What we have seen today is gross negligence.

“Someone on £200,000 a year will benefit by an extra £3,000 a year meanwhile those on the breadline will continue to struggle. It is almost criminal and completely detached from reality.

“Cuts to cooperation tax, the removal of the bankers’ bonus cap and the abolishing of the top band of income tax for those earning over £150,000 will do absolutely nothing to help the average family this winter.

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“This is the most financially irresponsible budget I have ever seen laid out and it will inevitably lead to either cuts in public services or more debt for our children and grandchildren through increased borrowing.

Labour has also attacked the plan with Shadow Chancellor Rachel Reeves describing as "a plan to reward the already wealthy."

"It's all based on an outdated ideology that says 'if we reward those who are already wealthy, the whole of society will benefit'," said Ms Reeves.

They have also criticised the funding of budget, which involves a large amount of borrowing, and that there has been no independent forecast made by the office of budget responsibility with the Shadow Chancellor arguing: “Never has a government borrowed so much, and explained so little."

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But Conservatives in Wales have defended the latest plans.

Brecon and Radnorshire MS James Evans said: “This will massively benefit people across Brecon and Radnorshire, who will have more money in their pockets.

“Combined with the substantial support on energy bills, Conservatives are standing up for everyone across Wales and the United Kingdom.”

New Chancellor Kwasi Kwarteng said the new plans including the cutting of the basic rate of tax to 19p means Britain “will have one of the most competitive and pro-growth income tax systems in the world."

Other notable measures include the freezing of energy prices, cuts to the top rate of tax, stamp duty and corporation tax. People on Universal Credit will be asked to take steps to seek more work or if people don't fulfil job search commitments will face having their benefits cut.