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Shapps: Scrapping 45p tax rate ‘wrong move at wrong time’

Video Credit: ODN - Duration: 00:31s - Published
Shapps: Scrapping 45p tax rate ‘wrong move at wrong time’

Shapps: Scrapping 45p tax rate ‘wrong move at wrong time’

Chancellor Kwasi Kwarteng has U-turned on the government’s plan to axe the 45% rate for earnings over £150,000 and pay for it by borrowing.

Former cabinet minister Grant Shapps welcomed the announcement, saying that scrapping the 45p tax rate for the top earners was “the wrong move at the wrong time”.

Report by Jonesia.

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