Voters have been left unimpressed by the Chancellor after he announced that the government would not ‘proceed’ with a cut in the top rate of income tax.
Kwasi Kwarteng confirmed that plans to cut the income tax rate from 45 percent to 40 percent for those earning more than £150,000 have been scrapped this morning. Less than 24 hours ago, his boss, PM Liz Truss, defended the policy in a television interview.
After mounting pressure caused by economic turmoil, ministers have backed down. However, voters remain unconvinced about the Chancellor, it appears.
