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The Latest Breaking News from Kwasi Kwarteng

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

The Guardian - UK

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’

Evening Standard

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

‘I totally get how it looks’, chancellor says

The Independent UK

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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"

Daily Mirror

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’.

Al Jazeera

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

The Independent UK

“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

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'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.

The National (Scotland)

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

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

Axios

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

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

Chronicle Live

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)

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Daily Record

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.

Evening Standard

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

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

Insider UK

Chancellor u-turns on scrapping 45p tax rate

The plan had been to axe the 45% rate for earnings over £150,000 and pay for it by borrowing

The Independent UK

Kwarteng abandons 45p tax rate cut after Tory revolt and markets turmoil

’We get it and we have listened,’ chancellor says, in humiliating U-turn that has derailed the Tory conference

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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

Truss and Kwarteng U-turn on plans to abolish 45p rate of tax for the rich - updated

Proposal had proved unpopular during cost of living crisis

The Independent UK

Chancellor expected to U-turn on scrapping 45p tax rate

The Chancellor’s mini-budget triggered turmoil in the City and was criticised by the International Monetary Fund.

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

Evening Standard

Tory Party conference latest LIVE: Kwasi Kwarteng admits mini-budget caused market turmoil

Mr Kwarteng defended the Government’s measures aimed at growing the economy

The Guardian - UK

Monday briefing: Bolsonaro is down in Brazil’s election – but not out

In today’s newsletter: Brazilians will go to the polls again after leftist former president Lula won the first vote but failed to secure a majority over far right incumbent

Daily Mirror

Liz Truss and Kwasi Kwarteng SCRAP 45p tax cut for rich in U-turn after Tory mutiny

Chancellor Kwasi Kwarteng made an announcement saying 'we have listened' after a procession of top Tories came out to savage the idea - while benefits look to be cut for the poor

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