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Pound rises and bond yields drop after U.K. government scraps plan to cut taxes for wealthiest earners

Por: MarketWatch Politics October 03, 2022

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The U.K. has a 45% tax rate on those earning above £150,000. The move came as the chancellor as well as Prime Minister Liz Truss received heavy pushback from members of their own ruling Conservative party as it gathered for its annual meeting in the midlands city of Birmingham. Ex-cabinet minister Grant Shapps said over the weekend that Truss could lose a parliamentary vote on the tax cut, which benefited richer Britons, and another former... + full article



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