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In striking U-turn, Britain scraps tax cut for wealthy that helped spark market turmoil

Por: Los Angeles Times Business October 03, 2022

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The British government has dropped plans to cut income tax for top earners, part of a newly announced fiscal package that sparked turmoil on financial markets and sent the pound plummeting to record lows. In a dramatic about-face, Chancellor of the Exchequer Kwasi Kwarteng, Britain's finance minister, said Monday that he would abandon plans to scrap the top 45% rate of income tax paid on earnings above 150,000 pounds ($167,000) a year.... + full article



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