Bloomberg Tax
Oct. 2, 2022, 10:19 AM

Truss Says It Was Kwarteng Who Decided to Cut UK’s Top Tax Rate

Kitty Donaldson
Kitty Donaldson
Bloomberg News

Liz Truss said the controversial decision to remove the highest rate of UK income tax was taken by Chancellor of the Exchequer Kwasi Kwarteng and that her government is sticking with it despite market chaos.

Her defiance -- as the ruling Conservative Party’s annual conference begins in Birmingham on Sunday -- will further fuel anger among Tory MPs about her leadership and the economic policy she and Kwarteng are pursuing.

Read more: Can’t Go Forward, Won’t Go Back: Truss’s Government Hits Buffers

WATCH: UK PM Liz Truss says the decision to remove the country’s top tax rate was taken by her chancellor Kwasi Kwarteng. Rosalind Mathieson reports.
Source: Bloomberg

Former Cabinet Minister Michael Gove made clear he would not support the move to benefit the highest ...