February 22, 2025

The Newzz Owl

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United Kingdom Abandons Plans to Cut Income Tax Among the Most Wealthy

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London, UK: The Chancellor of the Exchequer Kwasi Kwarteng announced that the United Kingdom is abandoning plans to cut the income tax of the nation’s top earners, which was pushed last week by Prime Minister Liz Truss. The tax cut caused turmoil in the stock market and drew intense political pressure to reverse it.

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