Wall Street Journal: “The U.K. government Monday said it won’t proceed with the removal of a 45% top rate of income tax, scrapping a key element of a plan announced late last month that triggered turmoil in the country’s financial markets and an intervention by the Bank of England.”
“The U-turn is a major setback for new Prime Minister Liz Truss, who based her nascent leadership on a sweeping revamp of the British economy.”
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