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UK government drops plans for tax cut on wealthy that prompted turmoil on financial markets

Por: Fox Business Business October 03, 2022

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Check out what's clicking on FoxBusiness.com The British government has scrapped plans of cutting taxes on the wealthy, a move that prompted turmoil in and led to record lows for the pound. Treasury chief Kwasi Kwarteng said Monday he would no longer pursue plans to eliminate the top 45% rate of income tax paid on earnings above 150,000 pounds, or $167,000 a year.We get it, and we have listened, he said in a statement, adding that it is... + full article



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