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45% tax rate decision to be reversed - BBC

UK
  • The BBC is reporting that the Chancellor is due to make a statement "in the next hour, reversing the proposed scrapping of the 45p rate of income tax."
  • This follows increasing opposition from Tory MPs over the weekend - with a number saying they would vote against it and some saying they had enough votes to overturn the decision.
  • The decision in the Chancellor's "Growth Plan" to reduce the rate of income tax paid by those earning over GBP150,000 while the average person's cost of living increases had been described politely as political suicide by members even within the Conservative party.
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