UK forced to reverse tax cut for highest earners ...News

The recently introduced plan sparked a public outcry and, along with the new ‘mini-budget’, sent the pound to an all-time low The UK government will drop its plan to cut the tax rate for the highest earners, which was the least popular measure in the newly announced ‘mini-budget’, following a public backlash and market upheaval. The move was announced on Monday by Finance Minister Kwasi Kwarteng. “It is clear that the abolition of the 45% tax rate has become a distraction from our overriding mission to tackle the challenges facing our economy. As a result, I’m announcing we are not proceeding with the abolition of

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