Current Events > UK scraps tax cut for wealthy that sparked market turmoil lowering the pound

(+) Yeah! (+)

https://apnews.com/article/business-financial-markets-liz-truss-0acea0ad013e41524c8be3981654b922

The U.K. government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows.

In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans to scrap the top 45% rate of income tax paid on earnings above 150,000 pounds ($167,000) a year, a policy that had drawn near-universal opposition. The pound rose after the government U-turn, trading at $1.13 just over the value it held before the governments calamitous budget announcement on Sept. 23.

what does this mean for GME???

https://gamefaqs.gamespot.com/boards/400-current-events/80186122

And Truss said it wasnt my plan she took the Trump route of i didnt do it

But not before Truss gave a load of interviews defending it that will air now after it's been cut.

Funkydog posted...

But not before Truss gave a load of interviews defending it that will air now after it's been cut.

of course they tow the line till they dont then pretend they never said any of it

It was tax cuts for the top 1%...yet they also suffered from it.

All people understand is the 1 degree of thought that tax cut / raise = more / less money in their pockets. It's alot more complicated than that.

but trickle down