Liz Truss and the reverse on taxes, skip the cut to the richest: what’s going on

British Prime Minister Liz Truss thinks back and together with her Finance Minister Kwasi Kwarteng cancels the tax plan aimed at cutting taxes on the richest. Chancellor of the Exchequer Kwarteng confirmed that the government will not cut the maximum rate of 45 percent. “We will not go ahead with our plan to remove the 45% rate. It has now become a distraction to our mission to overcome the challenges we face. We understood the lesson, we listened to it, ”Kwarteng wrote on Twitter. “We are 100% focused on the growth plan,” the chancellor told the BBC explaining the decision. The markets did not like Truss’s fiscal plan and over the past week the pound had hit record lows against the dollar.
Just yesterday, on the day the annual Conservative Party Congress opened in the UK, the rift within the Tories exploded in all its virulence. One of the most authoritative exponents, Michael Gove, has in fact made it clear that he may not vote on the tax cuts plan wanted by Prime Minister Liz Truss: “I don’t think it’s right,” he said, adding that the tax cut for the richest is “a ‘display of wrong values’. Gove, a protagonist of the 2016 Brexit campaign and who has since held numerous leading roles in the government, told the BBC that the government’s plan – which turned the market upside down and plunged the value of the pound. – is not “conservative”; and to the explicit question asked him three times about how he will vote on the proposals, he refused to answer, saying only: “I don’t think it’s right.” Nadine Dorries, former Minister of Culture, also complained that some of the planned tax measures were “decisions taken only by the” chancellor “”, without prior consultation with the rest of the cabinet, such as reducing the tax rate from 45 to 40% higher on incomes over £ 150,000 a year. Truss, whose party is assembled in Birmingham, England, now faces the real risk of a violent rebellion in the House of Commons when she goes to vote.