Kwarteng fails three times to rule out further U-turns as Nick Ferrari takes him to task over the 45p tax rate reversal
The Chancellor was forced to issue a statement acknowledging it was not a good look to cut the 45p tax rate for people earning £150,000 or more, after a backlash from within his own party.
Along with other reforms like abolishing the cap on banker's bonuses, Mr Kwarteng had hoped to scrap the highest income tax bracket in a bit to stimulate growth. Mr Kwarteng said in a statement on Monday: "From supporting British businesses to lowering the tax burden for the lowest paid, our growth plan sets out a new approach for a prosperous economy," he said in a statement on Monday morning.
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