In a dramatic about-face, Treasury chief Kwasi Kwarteng said Monday he won't scrap the top 45% rate of income tax paid on earnings above 150,000 pounds a year.
It also came hours after the Conservatives released advance extracts of a speech Kwarteng is due to give later Monday at the party's annual conference in the central England city of Birmingham. He had been due to say:"We must stay the course. I am confident our plan is the right one." "I'm very pleased that we've decided not to proceed with that because it was drowning out the elements of an excellent plan," he said.
The Bank of England was forced to intervene to prop up the bond market, and fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.
Not good at all
It's like she's standing on a railroad track and suddenly 'sees the light.'
Only because a majority of the country were against this.
Conservatives always trying to look out for their cronies in business
Trump 2024!
Trickle down is a lie.