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Oct 3, 2022

A U.K. U-turn on plans to cut 45% tax rate

From the BBC World Service: The British finance minister Kwasi Kwarteng has now abandoned one of his flagship economic policies after it roiled markets. Plus, why shares of banking giant Credit Suisse plunged nearly 10% in early trading. And, people in Tunisia have taken to the streets to protest the high cost of living and food shortages.

The proposal to scrap the rate paid by the highest earners in the UK had been criticised as unfair at a time of rising living costs.
The proposal to scrap the rate paid by the highest earners in the UK had been criticised as unfair at a time of rising living costs.
OLI SCARFF/AFP

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