Chancellor of the Exchequer, Kwasi Kwarteng, has reversed his decision to remove the additional rate of tax, currently set at 45%.
Speaking earlier on BBC Breakfast, Kwarteng confirmed that after consultation with the Prime Minister, the controversial move would be reversed. Pressure had been growing over the last week from all sides of the political spectrum, as to the logic in cutting the 45% tax rate during a cost of living crisis.
As of yet, the remainder of the Chancellors mini budget remains unaffected.
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