365NEWSX
365NEWSX
Subscribe

Welcome

UK finance minister pledges no more distractions after ‘tough day’ sees U-turn on top tax rate - CNBC

UK finance minister pledges no more distractions after ‘tough day’ sees U-turn on top tax rate - CNBC

UK finance minister pledges no more distractions after ‘tough day’ sees U-turn on top tax rate - CNBC
Oct 03, 2022 41 secs

Finance Minister Kwasi Kwarteng on Monday said the government would not be distracted from delivering on its growth plan, shortly after the government dramatically abandoned its intention to cut income tax for the country's highest earners.

"What a day," Kwarteng said as he addressed attendees at the Conservative Party's annual fall conference in the central England city of Birmingham.

Alongside new Prime Minister Liz Truss, Kwarteng had spent the last 10 days defending the policy even as the British pound dropped to an all-time low, mortgage deals were pulled from the market and U.K.

"I can be frank, I know the plan put forward only 10 days ago has caused a little turbulence," Kwarteng said.

"We get it, and we have listened," Kwarteng said in a statement Monday morning.

Summarized by 365NEWSX ROBOTS

RECENT NEWS

SUBSCRIBE

Get monthly updates and free resources.

CONNECT WITH US

© Copyright 2024 365NEWSX - All RIGHTS RESERVED