Kwarteng shrugs off ‘little turbulence’ as he battles to regain authority after tax cut U-turn

Kwasi Kwarteng has sought to shrug off the chaos that triggered his U-turn on tax cuts for the highest earners as a “little turbulence”, in what has become a battle to regain authority.

The chancellor spoke at Conservative Party conference on Monday (3 October), hours after reversing plans to scrap the 45p rate of income tax.

“I know the plan put forward only 10 days ago has caused a little turbulence,” Mr Kwarteng said, to laughter from the audience, before claiming he wants to focus on the “major parts” of the government’s growth package.

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