Liz Truss says there is ‘no shame’ in reversing planned 45p tax cut

Liz Truss has said there is “no shame” in the government’s U-turn on the scrapping of the controversial 45 per cent income tax rate.

The binning of the highest rate of tax was announced in Kwasi Kwarteng’s mini-Budget, which sent the pound plummeting in value as the market was sent into turmoil.

Mr Kwarteng announced the tax cut for the wealthiest was being reversed on Monday, 3 October.

“Frankly, the 45p wasn’t a priority policy ... There’s absolutely no shame, Beth, in a leader listening to people,” the prime minister told Sky News’ political editor Beth Rigby.

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