Liz Truss abandons plan to scrap 45p top rate of income tax amid Tory revolt
by Peter Walker and Virginia Harrison from 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."
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