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UK not pushing for tax cuts for the rich… Repeal the top tax rate in ten days (comprehensive)

Quazi Quateng, UK Treasury Secretary

[AFP. 연합뉴스 자료사진]

(Seoul, Paris = Yonhap News) Reporter Dong-ho Kim, Reporter Hye-ran Hyun = Ten days after the British government announced a large-scale tax cut that caused confusion in the financial market, it withdrew its plan to eliminate the highest income according to. tax rate.

UK Treasury Secretary Quaji Kwateng posted on Twitter on the 3rd (local time), the second day of the ruling Conservative Party’s annual general meeting, that he would not push for the abolition of the top 45% income tax rate, AFP reported and Associated Press.

“Our growth initiatives, including business support and tax cuts for low-income families, were a new approach to ensuring a more prosperous economy,” he said.

In the UK, the tax rate of 45% applies to only 500,000 people, or 1% of the adult population, but they have such a high income that their revenue reaches £6 billion.

Among the large-scale tax cuts promoted by the new Leeds Truss administration, voices within the Conservative Party were particularly strong against abolishing the 45% income tax rate.

Former housing minister Michael Gove said the day before that the 45% tax break represented “wrong values” and expressed concern that it would be unconservative for the Conservatives to increase government borrowing to finance the tax cuts.

UK Treasury Secretary's Twitter statement
UK Treasury Secretary’s Twitter statement

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2022/10/03 16:27 Send