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The Latest Breaking News from Income Tax

Murphy warns against Tory ‘return to austerity’ after tax U-turn

Stormont’s Finance Minister welcomed the decision to abandon plans to abolish the top rate of income tax for the highest earners.

The Independent UK

Douglas Ross: U-turn on top rate of income tax ‘the right decision’

The Scottish Tory leader told party members that politicians ‘have to listen and respond and that is exactly what the Chancellor has done’.

The Independent UK

Chancellor again declines to say if benefits will rise in line with inflation

It comes as the Government U-turned on plans to cut the top rate of income tax for the highest earners.

The Independent UK

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The political time bombs ticking for Truss and Kwarteng

Despite the screeching U-turn on income tax, the PM still needs to regain the confidence of her backbenchers

The Guardian - UK

What Tories' 45p income tax U-turn means for you - check our cash calculator

Chancellor Kwasi Kwarteng has scrapped plans to ditch the highest rate of income tax after just 10 days after national outcry, but is keeping basic rate tax cuts for lower earners

Daily Mirror

All the times Truss and Kwarteng said they wouldn't U-turn on tax cut as credibility shot

We've rounded up 16 times in just over a week that Liz Truss and Kwasi Kwarteng beat the drum for their 45p Income Tax rate cut for the rich

Daily Mirror

UK scraps tax cut for wealthy that sparked market turmoil

The British government has dropped plans to cut income tax for top earners

The Independent UK

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“What an absolute s***show": Voters react to government after income tax U-turn

Chancellor Kwasi Kwarteng has confirmed that the cut in the 45p rate of income tax won't go ahead

Manchester Evening News

UK govt makes humiliating tax cut U-turn

LONDON: The government of British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn, reversing plans to cut the highest rate of income tax that helped to spark a rebellion in her party and turmoil in financial markets.

Bangkok Post

Chancellor's 45p income tax rate cut SCRAPPED in major U-turn for government

Mr Kwarteng has confirmed the U-turn in a TV interview in the last few minutes

Manchester Evening News

UK's Truss forced into tax U-turn after market turmoil, party rebellion

British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn after less than a month in power, reversing a cut to the highest rate of income tax that helped spark turmoil in financial markets and a rebellion in her party.

Reuters

Kwasi Kwarteng abandons plans to abolish 45p tax rate in major U-turn

CHANCELLOR Kwasi Kwarteng has announced he will abandon the plan to scrap the 45p rate of income tax for top earners in a dramatic U-turn.

The National (Scotland)

Liz Truss scraps controversial 45p tax cut for rich in U-turn after Tory revolt

The humiliated Prime Minister dropped her plans to axe the 45p top Income Tax rate just a day after saying she was "absolutely committed" to it on national TV.

Daily Record

UK Chancellor Kwasi Kwarteng in bombshell 45p tax cut U-turn

Kwasi Kwarteng also not ruling out U-turn on bankers bonuses

Evening Standard

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The Guardian - UK

Liz Truss abandons plan to scrap 45p top rate of income tax amid Tory revolt

Government makes U-turn over proposal to abolish top-rate tax cut after growing backlash over mini-budget

Wales Online

Government makes U-turn on mini-Budget income tax pledge

Chancellor Kwasi Kwarteng will no longer be scrapping the 45p rate of income tax

Reuters

UK to reverse cut to higher rate income tax - BBC

The British government is expected to reverse the proposed scrapping of the highest rate of income tax that has sparked a backlash in the governing Conservative Party, the BBC reported on Monday.

The Guardian - UK

Kwasi Kwarteng ‘to bring forward planned fiscal statement’ in another U-turn – as it happened

Guardian understands chancellor will make statement later this month, rather than in November as originally planned

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Wales Online

Grant Shapps joins Tory revolt over PM scrapping top rate of income tax

Fellow former cabinet minister Michael Gove had earlier threatened to vote against the Government's mini-budget

Nottingham Post

Readers say Liz Truss 'threw her Cabinet under the bus' in BBC interview

The Prime Minister was speaking about the decision to scrap the top rate of income tax

Daily Record

Liz Truss blames Chancellor Kwasi Kwarteng for decision to slash income tax for rich

The plans to abolish the 45 per cent tax rate on incomes above £150,000 a year in England, Wales and Northern Ireland has caused anger.

The Independent UK

Truss ‘throws Kwasi Kwarteng under a bus’ over tax cut for richest

The Prime Minister provoked a fresh row at the start of the Tory conference by saying the income tax cut was a ‘decision the Chancellor made’.

Nottingham Post

Liz Truss admits she could have 'laid the ground' better on tax cuts

She confirmed the decision to scrap the top rate of income tax for the nation’s highest earners was made by Kwasi Kwarteng rather than being agreed by the wider Cabinet.

The Independent UK

Liz Truss refuses to commit to benefits hike but stands by tax cut for rich

Former cabinet minister Michael Gove says U-turn needed on PM’s Budget ‘mistakes’

Daily Mirror

More than half of voters say Liz Truss's economic plans will wreck the country

The exclusive Deltapoll survey for the Mirror shows just 27% support scrapping the cap on bankers’ bonuses and only 17% back abolishing the top rate on income tax.

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