Early on Sunday evening, Liz Truss was clear – there was to be no rowing back on her economic plan, even the highly unpopular proposal to revoke theIn an interview with her local TV station, ITV Anglia, the Prime Minister said that cutting taxes across the board would “put the British economy on a path to long-term growth”. Asked specifically, “So you won’t change your mind on the 45p?”, Ms Truss replied simply: “No.
By the time the clip was actually broadcast, on Monday afternoon, it was already out of date. After weathering 10 days of collapsing markets, atrocious polls and rising backbench anger, the Prime Minister and Chancellor, her close friend and political soulmate, decided they had no choice but to reverse course.
This was the outcome the pair had fought bitterly to avoid. Time and again, they insisted that there woud be no U-turn, that the reduction in the top rate was a crucial part of the package which is designed to lift Britain’s economic growth to 2.5 per cent a year.who helped jolt them out of their complacency.
Ms Truss summoned the Chancellor to her suite in the Hyatt hotel – he had to walk out of a formal dinner before finishing his food after getting the call, according to witnesses – for crunch talks on the next steps. As well as Mr Gove’s intervention, the leadership team was spooked by the growing anger of MPs who were not yet ready to go public. No 10 and the Treasury had done little work to prepare the ground for the
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Liz Truss to delay approval vote on cutting 45p rate of tax, cabinet minister saysA cabinet minister has told Sky News Political Editor Beth Rigby that Liz Truss is to delay the vote on cutting the 45p rate of tax for higher earners. Meet the new boss, same as the old boss Ha, she knows she'd lose it or become a minority government from the removal of so many whips.
Source: SkyNews - 🏆 35. / 67 Read more »
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Source: BBCNews - 🏆 3. / 97 Read more »
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Source: SkyNews - 🏆 35. / 67 Read more »
Government to announce U-turn on 45p tax rate\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t Where is the headless duck emoji when you need it.. 🙄 The chancellor should resign
Source: FT - 🏆 113. / 51 Read more »
Truss and Kwarteng U-turn on plans to abolish 45p rate of taxProposal from Chancellor Kwasi Kwarteng had proved unpopular during cost of living crisis
Source: nottslive - 🏆 96. / 52 Read more »
Chancellor's 45p income tax rate cut SCRAPPED in major U-turn for governmentMr Kwarteng has confirmed the U-turn in a TV interview in the last few minutes So just wondering - if the markets now pick up - How will the top Tories have made a personal financial gain from last week's falls? We all know they Will Have- just tell us How? Tories out. There a bunch of jokers who don’t now what it’s like to live in the real world 🌎 👎
Source: MENnewsdesk - 🏆 23. / 69 Read more »