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‘No More Distractions,’ Says UK’s Kwarteng After Tax U-Turn (1)

Oct. 3, 2022, 3:48 PM

UK Chancellor of the Exchequer Kwasi Kwarteng sought to reassure jangled nerves in his ruling Conservative party with a pledge to deliver on the government’s economic strategy just hours after making a humiliating U-turn on a plan to cut taxes for top earners.

“No more distractions,” he told the Conservative party conference in Birmingham on Monday. “We have a plan and we need to get on with it.”

Kwarteng’s keynote speech to the Tory faithful came after he backtracked on a plan to scrap the 45% rate of income tax in order to head off the growing threat of a ...