UK government U-turns on controversial tax policy
BBC, 03 Oct 2022
The UK government has confirmed it is abandoning its plan to abolish the top rate of income tax for the highest earners following a growing backlash.
Chancellor Kwasi Kwarteng said "it is clear that the abolition of the 45p tax rate has become a distraction", adding "we get it, and we have listened".
The U-turn comes after several senior Tory MPs voiced their opposition to the plan, announced just 10 days ago in the mini-budget.
As the Conservative Party conference started in Birmingham on Sunday, Prime Minister Liz Truss vowed she would not abandon the policy.
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Chancellor Kwasi Kwarteng said "it is clear that the abolition of the 45p tax rate has become a distraction", adding "we get it, and we have listened".
The U-turn comes after several senior Tory MPs voiced their opposition to the plan, announced just 10 days ago in the mini-budget.
As the Conservative Party conference started in Birmingham on Sunday, Prime Minister Liz Truss vowed she would not abandon the policy.
Please subscribe HERE http://bit.ly/1rbfUog
#UK #Politics #BBCNews
