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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. s ....
You are borrowing money to cut taxes for people you are borrowing money to cut taxes for people who are already better off, and for people who are already better off, and the public, for example one constituents said i am taking on extra constituents said i am taking on extra shifts because mortgage rates are going extra shifts because mortgage rates are going up and you are borrowing money are going up and you are borrowing money to are going up and you are borrowing money to fund these tax cuts. to understand that criticism let s go back, the mini budget announcement took place in parliament on septermber 23rd, a whole range of plans were laid out, together making up the biggest tax cuts in the uk in 50 years and increased borrowing. that rattled markets. the day of the announcement, the pound fell dramatically against the us dollar. next, the international monetary fund even issued rare criticism of the plan. a day later, the bank of england was forced to intervene to ....