richard walker. former cabinet minister andrea leadsom. and the bbc s deputy political editor, vicki young. the chancellors day began like this. this 45p rate was simply a distraction in our mission to achieve higher growth. a u turn on the scrapping the 45p top rate of tax a policy he d announced in his mini budgetjust 10 days ago. now, in a little under 15 minnutes he ll be addressing the party faithful to persuade them that he is the man to be trusted with the economy through turbulent times. welcome to politics live in birmingham. andrea led some, after the market turmoil following the mini budget on the 23rd of september by kwasi kwarteng, and then the dramatic u turn overnight and this morning, on a central plank of that budget, and the economic perspectives of the government, how damaged is kwasi kwarteng s authority? i damaged is kwasi kwarteng s authori ? ~ ., , authority? i think it was really important authority? i think it was really important that author
iran s supreme leader accuses the united states of orchestrating widespread public protests over the death of a young woman in police custody. we re going to start here in the uk and politics. the row over giving a tax cut to some of the richest people in the country. to some of the richest for ten days the conservative government said it was the right thing to do. now they say they re not going to do it. here s the chancellor kwasi kwarteng saying that particular tax cut is not now going ahead. the 45p rate was simply a distraction from what was a very very strong set of measures and with the prime minister i decided not to proceed with the abolition of the rate. to be clear, what we re talking about is a huge u turn on one of the government s flagship economic policies, scrapping the top rate of income tax. let s take a closer look. currently, the highest earners pay 45% tax on their income over £150,000. some 660,000 people are thought to pay the highest tax rate. so if t
insisting the policy would stay, despite the widespread criticism. and tonight, another shift by the government, forced by events to make it, they are bringing forward their plan for dealing with debt to later this month, to try to reassure the markets. we will have the latest from birmingham on what the chancellor admitted had been a tough day. also tonight. raising the flag. ukrainian forces retake a village in one of the region is annexed by russia last week. a warning that the uk is facing a serious risk of gas shortages this winter, which could affect electricity supplies, too. cheering. and a warm welcome in fife, as the king and queen consort attend their firstjoint engagement since the end of formal mourning. and leicester strike early as they look to move off the bottom of the table with victory against nottingham forest at the king power. good evening. at the conservative conference in birmingham, party members have of modern times. abrupt policy u turns the chancel
good evening and welcome to bbc news. it s been a tough day that s how the chancellor began his speech to the party faithful at the conservative party conference this afternoon. it follows a dramatic u turn this morning when the government suddenly dropped its plan to scrap the 45p top rate of income tax. only yesterday, the prime minister had insisted the tax cut would stay except in scotland. but now kwasi kwarteng says criticism of the measure had become a huge distraction that had drowned out other measures announced in the government s so called mini budgetjust 10 days ago. his change of heart followed mounting opposition among tory mps to the tax cut. our political editor, chris mason, reports. first thing this morning, things are moving. and fast. the planned tax cut for the highest paid is being junked. the government has blinked. it was an ambitious plan, and we talked to lots of people up and down the country. i saw the reaction. we considered what to do w
as the king and the queen consort attend their firstjoint engagement since the end of formal mourning. live from our studio in singapore. this is bbc news. it s newsday. the uk chancellor, kwasi kwarteng, has told the conservative party conference in birmingham that he s still determined to deliver his economic plan hours after performing a major u turn on a flagship policy. he s abandoned a proposal to scrap the top income tax band, following widespread criticism, turmoil on the financial markets and a dramatic drop in the value of the pound. the chancellor acknowledged his plans caused, what he called, a little turbulence in the economy. he s now also expected to bring forward his next financial statement from the 23rd of november to this month. here s our political editor, chris mason. first thing this morning, things are moving. and fast. the planned tax cut for the highest paid is being junked. the government has blinked. it was an ambitious plan, and we talked to lots