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Daily Mirror
Daily Mirror
Business
Sam Barker

What Tories' 45p income tax U-turn means for you - check our cash calculator

Income Tax Kwasi Kwarteng Liz Truss

The Government has scrapped plans to cut the top rate of income tax - which would have meant the very richest got even richer.

Chancellor Kwasi Kwarteng announced plans to aboilish the 45p rate of income tax in his mini-Budget on September 27 .

His original plans meant someone earning over £150,000 a year would have paid 40p per pound they earn, not 45p.

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