The British Truss administration has announced that it will withdraw the proposal to lower the top income tax rate, which was one of the pillars of its economic measures.
While the approval rating of the ruling Conservative Party has fallen, there has been criticism from within the party that it is preferential treatment for the wealthy, and it has been forced to correct its trajectory.
British Finance Minister Quarteng announced on the 3rd that he would withdraw the plan to cut the top income tax rate from the current 45% to 40% in April next year, among the economic measures proposed by the Truss administration.
“We have spoken to many people and seen their reactions, and we felt that this tax cut was drowning out our strong interventions on energy and other issues,” said Finance Minister Kwartengu. He explained that he prioritized promoting control measures.
Prime Minister Truss also made an appearance on the BBC public broadcaster the day before, and declared that the tax rate would be lowered as planned to encourage entrepreneurship and investment. I wrote something like.
The tax rate cut has been criticized by the ruling Conservative Party for favoring the wealthy amid record inflation in the UK.
A political party poll conducted late last month by the major research firm YouGov found that the Conservative Party had 21%, while the opposition Labor Party had 54%. It's a forced form.