Where the Comment is King

THE NEWS COMMENTER

VOTE  (0)  (0)

UK tax cut live: Latest updates on abolition of 45p income tax rate

Added 10-03-22 04:36:04am EST - “Follow MailOnline's liveblog for updates as Chancellor Kwasi Kwarteng is expected to make an abrupt U-turn over the abolition of the top rate of income tax.” - Dailymail.co.uk

CLICK TO SHARE

Posted By TheNewsCommenter: From Dailymail.co.uk: “Kwasi Kwarteng is set to U-turn over abolition of 45p income tax rate”. Below is an excerpt from the article.

Follow MailOnline's liveblog for updates as Chancellor Kwasi Kwarteng is expected to make an abrupt U-turn over the abolition of the top rate of income tax:

On the Government scrapping plans to axe the 45p top rate of tax, the director-general of a free-market think tank said: 'I've known Liz Truss for many years and I can't think of another time where she's changed her mind on anything, anything at all.'

Mark Littlewood, of the Institute of Economic Affairs, told BBC Radio 4's Today programme: 'As a matter of principle I would have liked to have got rid of this rate, I think it's a complication in the tax code, I think it raises virtually no money.

'But this has become a political hot potato, they have decided this is not the hill they're going to die on, a tax that raises £2 billion or so.

'Of course, it will raise the question that the next time Kwasi Kwarteng makes an announcement that Grant Shapps and Michael Gove don't like, does that announcement stick?'

Read more...















If you don't see any comments yet, congrats! You get first comment. Be nice and have fun.

Comment Box is loading comments...

CLICK TO SHARE

BACK TO THE HOME-PAGE