A 'colossal' U-turn
'I get it.' The Chancellor says they responded because the 45p rate of income cut had become 'a massive distraction' from the government's plans to 'achieve higher growth'.
The government has U-turned on plans to scrap the 45p rate of income tax for higher earners. The Chancellor, Kwasi Kwarteng, told ±«Óãtv News the proposals, announced just 10 days ago, had become 'a massive distraction on what was a strong package'. He said they took the decision because they had 'talked to people, we listened to people, I get it.' The decision, which marks a humiliating climbdown for the Prime Minister, Liz Truss, comes after several Tory MPs criticised the plan.
For 5 Minutes On - the ±«Óãtv's Political Editor, Chris Mason, has this analysis on the government's 'colossal' U-turn.
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