UK reverses tax cut proposal after market, public backlash

The British government has taken a U-turn on tax cuts that would have cost government coffers billions of dollars in much-needed revenues. In a statement, the finance ministry said Downing Street was scrapping a plan to trim the top income tax rate to 40% from 45%. For the details, we spoke to Danni Hewson, AJ Bell’s financial analyst. #Britain #IncomeTax #Pound