UK’s Kwarteng: Will not go ahead with plan to scrap 45% income tax rate UnitedKingdom FiscalPolicy GBPUSD Politics
UK Finance Minister Kwasi Kwarteng confirmed earlier reports, noting that his government will not go ahead with a plan to scrap a 45% rate of income tax.The 45p rate was drowning out a strong package of intervention.Asked if he has considered resigning, he said, not at all.It has become clear the abolition of the 45p rate is a distraction from our mission to tackle the challenges facing the country.This will allow us to focus on delivering the major parts of our growth package.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.