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The Latest Breaking News from Kwasi Kwarteng

The UK scraps a proposed tax cut for the wealthy that sparked market turmoil

The tax cut was part of a package of unfunded cuts unveiled only days ago that sent the pound to record lows and was widely seen as politically toxic.

WEKU

Tories have made UK ‘laughing stock’, says donor defecting to Labour

Truss and Kwarteng are ‘zealots’ practising ‘GCSE economics’, says Gareth Quarry

The Independent UK

Timeline: How Liz Truss and Kwasi Kwarteng’s 45p tax policy spectacularly fell apart

The policy was being defended by the government as recently as 24 hours before it collapsed

The Independent UK

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'Charlatan' Douglas Ross says Chancellor 'right' to U-turn on tax cuts

DOUGLAS Ross has said the Tory government was “right” to U-turn on plans to cut taxes for the rich – despite having publicly backed the policy.

The National (Scotland)

‘Imagine losing £65bn and keeping your job’: Twitter reacts to tax U-turn

Social media awash with people poking fun at PM, chancellor, and others who backed cut to 45p tax rate

The Guardian - UK

Kwasi Kwarteng refuses to rule out new era of austerity as Universal Credit cut looms

The Chancellor faces accusations of leaving vital public services with a 'massive black hole in their budgets' as he refused to be drawn on whether the government will curb public spending

Daily Mirror

'I was very clear': Truss adviser insists he DID warn her about mini-budget risks

LIZ Truss’s own external economics adviser has insisted he warned her and the Chancellor about the risks of their mini-budget after Kwasi Kwarteng…

The National (Scotland)

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Tax U-turn ‘does not draw line’ under Tory backbench anger over Kwarteng budget

Spending on welfare benefits and public services is next battleground, predicts former minister

The Independent 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

Kwasi Kwarteng says he 'had to' go to Budget day champagne bash for 15 minutes

The embattled Chancellor insisted he only attended the boozy do for 15 minutes and added: 'I totally get how it looks.'

Daily Mirror

Truss U-turned on tax cuts for the super-rich – now she can axe the rest of her disastrous budget

If the PM and Kwasi Kwarteng want to stem public fury, they must go further, says Guardian columnist Simon Jenkins

The Guardian - UK

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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The Independent UK

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 Guardian - 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 National (Scotland)

'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…

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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

The Independent UK

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

France 24

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…

Daily Record

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 Mirror

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

The National (Scotland)

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.

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