Truss and Kwarteng U-turn on scrapping 45p tax rate

Chancellor said the controversial proposal had become a ‘massive distraction’

Business Secretary Kwasi Kwarteng at BBC Studios
Kwasi Kwarteng used last month’s mini budget to announce the plan to axe the top income tax rate on earnings above £150,000
(Image credit: Hollie Adams/Getty Images)

The government is ditching much-criticised plans to scrap the 45p top rate of income tax, the chancellor has announced.

In what the BBC described as a “humiliating climbdown”, Kwasi Kwarteng told the broadcaster that the proposal, announced ten days ago in his mini budget, had become “a massive distraction on what was a strong package”.

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  Chas Newkey-Burden has been part of The Week Digital team for more than a decade and a journalist for 25 years, starting out on the irreverent football weekly 90 Minutes, before moving to lifestyle magazines Loaded and Attitude. He was a columnist for The Big Issue and landed a world exclusive with David Beckham that became the weekly magazine’s bestselling issue. He now writes regularly for The Guardian, The Telegraph, The Independent, Metro, FourFourTwo and the i new site. He is also the author of a number of non-fiction books.