News Formal

U.K. abandons tax cut for wealthy that sparked market turmoil

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 61 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 97%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

U.K. gilts and pound rise on government U-turn over tax cuts

LONDON — The British government has dropped plans to cut income tax for top earners, part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows.

Treasury chief Kwasi Kwarteng said Monday that he will not scrap the top 45% rate of income tax paid on earnings above 150,000 pounds a year.The U-turn comes as more lawmakers from the governing Conservative Party turn on government tax plans announced 10 days ago. It also comes hours after the Conservatives released advance extracts of a speech Kwarteng is due to give later Monday at the party’s annual conference, saying: “We must stay the course. I am confident our plan is the right one.

Prime Minister Liz Truss defended the measures on Sunday, but said she could have “done a better job laying the ground” for the announcements. Truss took office less than a month ago, promising to radically reshape Britain’s economy to end years of sluggish growth. But the government’s Sept. 23 announcement of a stimulus package that includes 45 billion pounds in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.

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.

 

コメントありがとうございます。コメントは審査後に公開されます。
このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 3. in JP

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

UK scraps tax cut for wealthy that sparked market turmoilBIRMINGHAM, England (AP) — The British government has dropped plans to cut income tax for top earners, part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows. Conservatives once again will be praising themselves for fixing the issue they caused Tax the Royals! But why? In these hard times it’s the rich that struggle the most. How will they get that 5th course on their table?
ソース: AP - 🏆 728. / 51 続きを読む »

UK walks back controversial plan to cut top tax rate | CNN BusinessThe British government has announced it will reverse plans to scrap the highest rate of income tax, following a major backlash to its proposed 'growth plan.' Could it be that 'Trickle Down' economics has breathed its last? 🙏 It’s absolute chaos!
ソース: cnnbrk - 🏆 393. / 55 続きを読む »