UK government U-turns on plan to scrap 45% tax rate for highest earners

Just ten days after presenting his controversial mini-budget, UK Finance Minister Kwasi Kwarteng has had to retract one of its key features. Those with annual incomes above £150,000 will not see their taxes cut in the end. The U-turn comes after days of market turmoil and political pressure. Also in the show: as Berlin seeks to wean itself off Russian gas, our correspondents visit the country's first floating Liquefied Natural Gas terminal. 

Oct 3, 2022 - 12:06
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UK government U-turns on plan to scrap 45% tax rate for highest earners
Just ten days after presenting his controversial mini-budget, UK Finance Minister Kwasi Kwarteng has had to retract one of its key features. Those with annual incomes above £150,000 will not see their taxes cut in the end. The U-turn comes after days of market turmoil and political pressure. Also in the show: as Berlin seeks to wean itself off Russian gas, our correspondents visit the country's first floating Liquefied Natural Gas terminal.