LONDON: British government has scrapped a proposed top rate tax cut of 45 per cent, the country’s Chancellor of the Exchequer announced Monday.The decision to announce a major U-turn from the tax cut for high earners came after a week of economic turmoil in the country and the UK pounding diving to a historic low against the US dollar, according to Anadolu Agency.Kwasi Kwarteng wrote on Twitter that the cut had “become a distraction.”“We get it and we have listened,” he added.Kwarteng’s announcement followed criticism from Tory MPs in the party’s autumn conference that continues in Birmingham.Also taking to Twitter, Prime Minister Liz Truss echoed Kwarteng: “We get it and we have listened.“T
Hence then, the article about uk government scraps 45 top rate tax cut was published today ( ) and is available onDaily Sun ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( UK government scraps 45% top rate tax cut )