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Kate Plummer
Oct 03, 2022
Chancellor Kwasi Kwarteng admits tax cut on 45p rate was a 'massive …
Indy
The government is patting itself on the back for reversing an unpopular planned tax cut but not everyone is dishing out congratulations.
Chancellor Kwasi Kwarteng told the BBC the proposals to scrap the 45p rate, paid by people earning over £150,000 a year, had become a "massive distraction on what was a strong package".
"We just talked to people, we listened to people, I get it," he added.
Since being floated a mere 10 days ago, the plan had been criticised from the markets, opposition parties and a growing number of Tory MPs meaning it looked like prime minister Liz Truss wouldn't have sufficient support to get the policy through the commons.
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Even senior Tory Michael Gove had hinted his disapproval but Truss defended it, saying it would lead to growth in the economy, as recently as Sunday.
But since claiming "we listened to people" by scrapping the plans, Kwarteng has been hit with criticism from people rather more cynical about politics who suggested the policy was only changed due to its unpopularity and evidenced the government's terrible judgement.
\u201cNick Robinson: \u201cChancellor, it\u2019s no use saying \u2018well of course we\u2019ve listened\u2019 - for 2 weeks you\u2019ve done the opposite of listening.\u201d\nKwarteng: \u201cWell, it was about 9 days\u201d @BBCr4today\u201d— Lizzy Buchan (@Lizzy Buchan) 1664781421
\u201cYou only \u201cgot it and listened\u201d after facing a substantial backbench rebellion and the prospect of losing your job in record time through your boundless incompetence. Don\u2019t take voters for fools\u201d— Grahame Lucas (@Grahame Lucas) 1664780777
\u201cDon\u2019t sound so angry. You are a disgrace. They won\u2019t forget and they won\u2019t forgive.\u201d— Karl Turner MP (@Karl Turner MP) 1664780826
\u201cHow can we trust your judgement again?\u201d— Piers Morgan (@Piers Morgan) 1664781099
\u201cThis Tory Government and this Chancellor are a million miles away from "getting it". This u-turn is about self-preservation, not policy.\u201d— Alison Thewliss \ud83e\udde1 (@Alison Thewliss \ud83e\udde1) 1664781264
\u201cWe listened to YouGov polls last week, but paid no heed to advisors and economists who told us from the start that it was a really bad idea.\u201d— Rhodri Marsden (@Rhodri Marsden) 1664781121
\u201cHow bloody patronising, it reads like \u201cyeah yeah we get it\u201d\u201d— Rachel Charlton-Dailey (@Rachel Charlton-Dailey) 1664781530
\u201cBut do they now think it was wrong? Or just too unpopular? Will we see lower mortgage rates return or is the damage for families done?\u201d— Krishnan Guru-Murthy (@Krishnan Guru-Murthy) 1664781552
Truss and Kwarteng have been at the helm of the country for only a few weeks and they are already navigating very choppy waters.
Can things get any better?
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