The British Minister of the Economy, Kwasi Kwarteng, has announced that he is withdrawing the measure, which has generated a whole rebellion in the conservative ranks themselves as well as in the stock market.
Euskaraz irakurri: Gobernu britainiarrak atzera egin du eta zerga tarte altuena jaisteari muzin egin dio
the minister British Economics, Kwasi Kwartengannounced this Monday that the Government will give up lowering the highest income tax bracket from 45% to 40%, a decision that had sparked a rebellion in the conservative ranks themselves.
“It is clear that the abolition of the 45% rate had become a distraction in our primary mission of addressing our country’s challenges. As a consequence, we will not go ahead with its abolition. We understand, and we have listened,” the minister said in a statement.
The fiscal plan presented by Kwarteng on September 23 had created convulsions in the markets in the face of doubts about London’s ability to assume the public debt generated by the tax cut.
Source: Eitb
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