Kwasi Kwarteng defends sudden U-turn on scrapping 45p rate tax

Remember that statement chancellor Kwasi Kwarteng made on Monday?

The one backtracking on plans to scrap the 45p rate of tax?

In case you don't - allow us to reproduce it. Kwarteng said "we get it and we have listened" and acknowledged that scrapping the tax, which applies to people earning over £150,000 a year had become a "distraction" from the government's plans to grow the economy.

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It came after sustained criticism from economists, politicians, the media and just about everyone with a bit of sense.

And if Kwarteng's apology sounds familiar that's because it is. The "we get it" line was used in popular drama Succession.

Addressing employees on the back of a series of scandals, Shiv Roy tells them “we get it” in an attempt to save the company's reputation and keep staff on board.

The similarities between the season three scene and the chancellor's statement were not lost on people:

Their policies aren't pretty but at least the Tories have good taste in TV.

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