UK government forced to ditch plan to slash top rate of tax | CNN Business

  • 📰 cnnbrk
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 55%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

UK walks back controversial plan to cut top tax rate

In a statement on Monday, finance minister Kwasi Kwarteng said the tax cut for the highest earners “had become a distraction” from the government’s wider package of measures to tackle the energy crisis and to reduce taxes more broadly, in its efforts to end years of economic torpor. “We get it, and we have listened,” he said.

‘Symbolic’ move “This move is rather symbolic, being less about the amount of money it will save and more about the poor signal it had delivered of ideological tax cuts,” wrote Chris Turner, global head of UK markets at ING. The scale of the challenge was underscored late Friday when ratings agency S&P reduced its outlook for the credit rating on UK sovereign debt to “negative” from “stable.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 393. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Joe Biden campaigned on SHUTTING DOWN AMERICAN FOSIL FUELS! Period! Joe Biden SHUT DOWN AMERICAN OIL and chose OPEC&RUSSIAN OIL and now both are cutting down oil by 2 million barrels a day! This is Biden&Democrats fault NOT Covid NOT Putin but YES Biden! Period! A FACT!

🍳 🙎

In the 30 September a suicide bomber struck the kaaj higher education center in Dasht-e-Barchi, a predominantly Shia area of the afghan capital, while they were taking a test university, killing more 100 innocent lives and injuring a lot more. Be our Voice! StopHazaraGenocide

If I enjoy this privilege all alone it shows how ungrateful I’m because I got this opportunity from a post here as well and saw recommendations too.All thanks to the good work of crypto___kings

Walks back is an extremely polite term for a MONUMENTAL U TURN !!!!!

Liberals like CNN always use the term 'controversial' when something doesn't go along with their leftwing world view.

Why is CNN not covering IranProtests? Is Iran not important?

Uk top tax went from 45 to 40 meanwhile yours is 37 of which most get away with not paying so don’t start.

Per VP Harris white people will be last to receive help, black and brown come first. Seems unfair and racist

If you read this message we need your help! Please be our voice🙏 StopHazaraGenocide

Worst dow performance in decades and FakeNews hides it...too risky as elections coming up. The media in this country sickens me.

Good

evil forces at work trying to prevent sound decisions...like in the US.

stophazaragenocide

MahsaAmini

SOS 🆘 Students at Sharif , Isfahan and Tabriz University in Iran have been trapped and shot by forces! The sound of gun fire was heard of campus for a long while ! Hundreds of students have been arrested & their lives are in danger ! Be their voice mahsaamini

Tax cuts for the wealthy are just not popular anywhere!

good news, brilliantshane

this is the kind of think that keeps you poor

If you stand for humanity be the voice of the Iranian people. Innocent lives are in danger MahsaAmini مهسا_امینی

Please don't forget what is going on in afghanistan! End the genocide that has been decades after decades! StopHazaraGenocide

MahsaAmini opiran please support Iranian students!!!SOS

Why isn’t CBCNews covering protests in Iran? One of the biggest humanitarian crises is happening in Iran right now! Why aren’t you covering it?!!! Mahsa_Amini FreeIran

StopHazaraGenocide

Please be our voice StopHazaraGenocide

mahsaamini

People are getting killed, tortured and arrested in Iran right NOW. MahsaAminiمهسا_امينى

🆘️🆘️🆘️🆘️🆘️🆘️ Sharif University is blocked and shot to students مهسا_امینی شریف

Canada Canada Latest News, Canada Canada Headlines