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
then insurance. so if you are working, then that insurance. so if you are working, then that should have some sort of an effect, then that should have some sort of an effect, but i think if you are working. an effect, but i think if you are working. it an effect, but i think if you are working, it is worth having a look at how working, it is worth having a look at how you working, it is worth having a look at how you can mitigate your tax payments at how you can mitigate your tax payments generally. as kevin said, we do payments generally. as kevin said, we do have payments generally. as kevin said, we do have a problem with the freezing we do have a problem with the freezing of the income tax band because freezing of the income tax band because that has frozen at £12,575, that is because that has frozen at £12,575, that is how because that has frozen at £12,575, that is how much you have to earn before that is how much you have to earn before you that is
as kevin said, we do have a problem with the freezing of the income tax band because that has frozen at £12,570, that is how much you have to earn before you get to pay tax. this means that people who are retired and on state pension may actually pay more tax in april when their state pension goes up. the chancellor put the state pension up, he is going to be putting it up by 8.5% in april which is good news, except that because we have this frozen level for the income tax, actually pensioners may be caught up in tax whereas before april they haven t been. there is a question here that asks will voluntary
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
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