Article 64ABE Liz Truss abandons plan to scrap 45p top rate of income tax amid Tory revolt

Liz Truss abandons plan to scrap 45p top rate of income tax amid Tory revolt

by
Peter Walker and Virginia Harrison
from Economics | The Guardian on (#64ABE)

Government makes U-turn over proposal to abolish top-rate tax cut after growing backlash over mini-budget

Liz Truss's government has abandoned its plan to abolish the 45% top rate of income tax in a humiliating U-turn, after a growing Conservative revolt over the policy and a turbulent reaction from markets.

Announcing the decision in an early morning tweet on Monday, Kwasi Kwarteng said: We get it, and we have listened."

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/business/economics/rss
Feed Title Economics | The Guardian
Feed Link https://www.theguardian.com/business/economics
Feed Copyright Guardian News & Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments