News Formal

UK finance minister pledges no more distractions after ‘tough day’ sees U-turn on top tax rate

  • 📰 CNBC
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

U.K. Finance Minister Kwasi Kwarteng on Monday said the government would not be distracted from delivering on its growth plan.

Earlier in the day, the U.K. government reversed a plan to scrap the top 45% rate of income tax paid on earnings above £150,000 a year following a growing public backlash and major market turbulence.

Economists and analysts were skeptical that the U.K. government's U-turn on tax cuts for the wealthy would alleviate market skittishness, however.

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:

 /  🏆 12. in SG
 

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

his knecktie isn't straight o, that's because it's my turn

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Britain's Tax Cut Pivot Might Not Be Enough to Quell Market MayhemThe U.K. government’s reversal on scrapping the top rate of income tax is down to political optics and will not reassure market skittishness, analysts told CNBC Monday.
Source: nbcsandiego - 🏆 524. / 51 Read more »