UK finance minister Kwarteng: We are reversing abolition of 45p tax rate

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FILE PHOTO: FILE PHOTO: New British Health Chancellor of the Exchequer Kwasi Kwarteng walks outside Number 10 Downing Street in London

LONDON (Reuters) – British finance minister Kwasi Kwarteng said on Monday the government was reversing its plan to scrap the highest rate of income tax.

“We are not proceeding with the abolition of the 45p tax rate. We get it, and we have listened,” Kwarteng said in a statement on Twitter.

(Reporting by Kylie MacLellan, Editing by Paul Sandle)

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