All the times Truss and Kwarteng defended tax cut plans before U-turn
Guardian, 03 Oct 2022
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.
We look back at the times the prime minister and her chancellor, Kwasi Kwarteng, defended the controversial plans before announcing a U-turn – less than 24 hours after Truss last defended the policy in a TV interview.
Truss had said she would 'stand by' the mini-budget announced on 23 September, which handed bigger tax cuts to the wealthy, in an interview with the BBC's Laura Kuenssberg on Sunday. Less than 24 hours later, Kwarteng announced the U-turn, but insisted much of the market turmoil was caused by international factors, and declined repeated invitations to apologise
Liz Truss abandons plan to scrap 45p top rate of income tax amid Tory revolt
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