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The Latest Breaking News from Kwasi Kwarteng

Who pays 45% tax in the UK? Tories scrap tax cut for top earners after backlash

People have to earn more than £150,000 to qualify for an additional tax rate

Evening Standard

Tory rebel Grant Shapps says Liz Truss has admitted that she rushed into tax cut

Tory rebel Grant Shapps insisted on Monday that he did not want Liz Truss to be toppled as Prime Minister after the humiliating U-turn over the top rate of tax.

Evening Standard

HospoDemo returns as hospitality industry cries out for government support

The protest will call for a VAT cut to 10 per cent, business rates reform and a new staff visa

Evening Standard

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UK Government tax U-turn should be welcomed, says Scottish Secretary

Kwasi Kwarteng announced on Monday morning that the UK Government would not go ahead with scrapping the 45% rate of tax.

The Independent UK

Treasury chief secretary barred from housing decisions because of property firm

Chris Philp retains big stake in development loans group – despite promotion to be Kwasi Kwarteng’s deputy

The Independent UK

Kwarteng’s tax U-turn was inevitable – and he has already done damage

Chancellor’s reversal shattered his reputation and did unnecessary harm to an already weak UK economy

The Guardian - UK

'He has to go': Scottish Greens and SNP slam Chancellor's dramatic U-turn

THE Scottish Greens have said that Chancellor Kwasi Kwarteng “has no option but to go” following a U-turn on his plan to scrap the 45p tax rate…

The National (Scotland)

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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

Pound rises as Kwasi Kwarteng scraps 45p tax cut following market turmoil

It comes days after sterling fell to record low following chancellor’s so-called mini-Budget

The Independent UK

UK government U-turns on plan to scrap 45% tax rate for highest earners

Just ten days after presenting his controversial mini-budget, UK Finance Minister Kwasi Kwarteng has had to retract one of its key features. Those with annual incomes above £150,000 will not see their taxes cut in the end. The U-turn comes after days of market turmoil and political pressure. Also in…

France 24

Nicola Sturgeon accuses Tories of 'utter ineptitude' after Liz Truss u-turn on top tax rate

The U-turn was confirmed at 8am despite Liz Truss declaring yesterday she would not change her party's controversial economic policies.

Daily Record

Martin Lewis on Kwasi Kwarteng's 'sad' Good Morning Britain absence after budget U-turn

GMB host Martin Lewis revealed he was 'sad' that Kwasi Kwarteng had 'chosen not to appear' on the show as he hosted on Monday

Daily Mirror

Chancellor confirms cuts of up to £18bn for public services amid economic turmoil

CHANCELLOR Kwasi Kwarteng has confirmed that public services face further cuts of up to £18 billion per year.

The National (Scotland)

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The Guardian - UK

Tax U-turn wins Truss some time but damage to credibility remains

PM said she was prepared to make unpopular decisions – but then buckled, so now she will be seen as both unpopular and wrong

Evening Standard

Kwasi Kwarteng admits attending banker champagne reception after mini-Budget ‘wasn’t best idea’

Chancellor admits: ‘With hindsight it probably wasn’t the best day to go’

The Independent UK

Kwarteng admits attending Champagne party after Budget ‘wasn’t best day to go’

‘I totally get how it looks’, chancellor says

Daily Mirror

Kwasi Kwarteng statement in full on tax cuts U-turn as he refuses to resign

Mr Kwarteng and Liz Truss finally relented to growing pressure after Tory MPs broke ranks over the 45% rate cut for the UK's highest owners, with the Chancellor saying: "We get it, and we have listened"

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Al Jazeera

UK government makes tax cut U-turn after market turmoil

Chancellor Kwasi Kwarteng says controversial proposal to slash top rate of income tax had ‘become a distraction’.

The Independent UK

Kwarteng confirms further cuts of up to £18bn for public services

Budgets will not be topped up to take account of soaring inflation, chancellor says

Manchester Evening News

“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

The National (Scotland)

'Utter ineptitude': Nicola Sturgeon reacts to UK Government's 45p tax rate U-turn

FIRST Minister Nicola Sturgeon has reacted to the news that Kwasi Kwarteng will abolish plans to scrap the 45p tax rate for top earners.

Axios

U.K. government reverses tax cut plans for highest earners after outcry

"We get it, and we have listened," Chancellor Kwasi Kwarteng said.

Bangkok Post

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.

Chronicle Live

Government drops plans for 45p rate tax cut after mounting opposition

Opposition to the plan included several former Ministers and speculation was growing that the Government could be defeated

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