The UK chancellor, Kwasi Kwarteng told the Conservative conference that it had been a 'tough day', hours after making a U-turn on a tax cut for high earners, and suggested his economic plan had caused 'a little turbulence'.
The speech came after Kwarteng abandoned his plan to abolish the 45% top rate of income tax in a humiliating reversal. There had been a growing Conservative revolt over the policy and a tumultuous reaction from markets
Kwasi Kwarteng admits tax plans caused ‘a little turbulence’
Kwasi Kwarteng dismisses row leading to 45% tax rate U-turn as ‘a little turbulence’ in Tory conference speech– UK politics live