All the times Truss and Kwarteng defended tax cut plans before U-turn

Liz Truss’s government has abandoned its plan to abolish the 45% top rate of income tax in a humiliating U-turn, after a growing Conservative revolt over the policy and a turbulent reaction from markets.

We look back at the times the prime minister and her chancellor, Kwasi Kwarteng, defended the controversial plans before announcing a U-turn – less than 24 hours after Truss last defended the policy in a TV interview.

Truss had said she would 'stand by' the mini-budget announced on 23 September, which handed bigger tax cuts to the wealthy, in an interview with the BBC's Laura Kuenssberg on Sunday. Less than 24 hours later, Kwarteng announced the U-turn, but insisted much of the market turmoil was caused by international factors, and declined repeated invitations to apologise.

The Guardian on YouTube:

#LizTruss #45pTaxRate #KwasiKwarteng #TaxCuts #Minibudget #Economy #UK

[johnadey]

Kwarteng met bankers and hedge fund managers a few days before the budget for a champagne party, then comes the budget Kwarteng abolishes the cap on banker’s bonuses, then the pound plunges and those same bankers made millions betting against the pound. The police should investigate!

[derekmab]

The damage has been done. They need to go.

[grahamturner]

We need a Privileges Committee investigation ASAP.

[bepowrepamkle]

I wonder if she will last the end of the year as PM of UK

[kevincrouch]

The words way out of their depth certainly spring to mind

[DilanPerera]

This Tory government is like a bunch of spoiled school children who planned to do something very silly but, couldn't go ahead with it because they were told off by their parents or teachers... 😂😂😂

[jnation]

This wouldn’t have happened if Sunak won

[RH-nkeo]

Between Kwasi and Liz it's hard to decide who has the most hateable face in politics

[davidnichol]

Zealous ambition goes against rationality. We have seen this attitude before. Your ambition runs ahead of a person's capabilities.

[supershah]

SUNAK was right about TRUSS!
Embarrassing PM!!
LIZ TRUSS OUT NOW!!!

[GWills-ysrd]

Continued catstrophically incompetent governing, how much more can the general public take? Enough is enough!

[Itthetruth]

We need laber in that will bee a lot better for all

[Ont]

45%??
Wow.

I can’t imagine earning 250, 000 and have to pay $112, 500 in taxes.

The world is messed up when we depend on one group of people to pay for everything.

[sweeseen]

this woman is not country leader material

[chrisify]

This is all a diversion to not talk about the COLLAPSE in pension funds

[sambo]

The result of a glorious British education system 😂👍

[Dungshoveleux]

Boris had to go but Liza is 10x worse 😥

[KSS]

Guess she is continually proving that she is not a patch on Rishi?

[thundertiger]

Yep Liz And Kawasaki needs to get the boot, we don’t want you. Oh and hope no one has forgotten about Phillip Schofield & Holy Willoughby that thought it was okay to skip the queue when seeing the Queen lying in state, they need to get the boot as well off our TVs!

[jonnobloggs]

Cant see any sign of that Truss Bounce in the polls yet 😃 😊