£150,000 a year. you can watch the payments are's speech here in full at 11 o'clock. how's it going? very well. the chancellor laughs. but it couldn't be further from the truth. the hard hats on a visit here in birmingham couldn't shield the prime minister and chancellor from a bruising few days at their party conference. liz truss plans to use her set piece speech today to explain why the disruption caused by her economic policies will be worth it. she will argue everyone will benefit from economic growth she thinks her tax cuts will bring. her challenge today is to take the members and mp5 in the room with her. unhappy tory mps forced ministers to perform a u—turn over their plans to cut the top rate of tax for the highest earners. the home secretary, suella braverman, accused her colleagues of staging a coup. i'm very disappointed that members of our own parliamentary
to explain why she thinks the "disruption" caused by her economic policies will be worth it. she will aim to reassure party members that she is on the right path and will claim that "everyone will benefit" from the economic growth produced by her tax—cutting plan. ms truss is still facing pressure from senior conservative party members, including penny mordaunt, leader of the commons over her refusal to commit to increasing benefits in line with inflation — a pledge made under borisjohnson�*s government. the row follows a u—turn on scrapping the 45p rate of income tax which would have benefitted those earning more than £150,000 a year. elsewhere, home secretary suella braverman has accused mps of undermining the pm. she said some fellow tory mps had staged a "coup" to force the u—turn on the 45p tax cut for higher earners. trade secretary kemi badenoch has responded, calling braverman�*s comments "inflammatory".
detector test? what does the lie detector test about? did you cheat? did you start your fish? did you added? >> well, i wasn't there for that. but i know that many of these big prizes in the -- so first places like 150,000 dollar range about. just like i drive every day. and when you're in the top five, and you're getting a check, i think we're 34 places like 50,000 cash. so everyone has to take a lie detector test in that. and he did not pass that. but again, that is kind of a separate incident. as you can imagine, it kind of adds to the drama in the whole situation. >> and the suspicion, right? you mentioned the amount of money, and in this particular private thing goes up to $29,000 and prize money. that was what was at stake here. has the sport of competitive fishing become even more competitive? if so, why? >> absolutely. when i started, i don't have youtube to watch, we had a
cheat, did you stuff your fish, what was the lie detector? >> i wasn't there for that but i know that any of these big prizes. this one was the fall brawl. first places like $150,000. and when you are in the top five and getting a check of like 34th place, like 50,000 cash. everyone has to take a lie tanker test. and he did not pass that. so again, it's kind of a separate incident. but as you can imagine this kind of adds to the drama in the whole situation. >> and the suspicion right? you mentioned the amount of money. this particular prize was up to $29,000 in prize money. that is what was at stake here. as the sport of competitive fishing become even more competitive and if so why? >> absolutely. when i started i did not have youtube to watch. we had a couple of fishing shows like you talked about and they weren't focusing on education. now it is the top professionals are teaching you about fishing. it's much easier for younger guys to come into the sport and learn much faster than what we did. quite frankly there is just a
has confirmed that the government will back down on its controversial plan to scrap the top rate of income tax. it's after growing pressure on the prime minister following criticism from several senior conservatives. our political correspondent nick eardley is at the party conference in birmingham. good morning, nick. where to start? it's quite a significant u—turn, understatement of the morning. it’s understatement of the morning. it's a understatement of the morning. it�*s a colossal u—turn, sally. this is a big moment in this government becausejust yesterday big moment in this government because just yesterday morning if you were switching on bbc one, you would have seen the prime minister saying, we are totally committed to scrapping the additional rate of income tax that is paid by more than 150, by those earning more than £150,000. this morning, the screeching u—turn from the chancellor, as he says, it's become a distraction. that basically there
career, in dallas. the englishwoman ended herfinal round on 18 under and then had a nervous wait to see if china's she ulengo could hold this pot, which would have forced a play—off, but she missed, and it meant that charley hull won by a single shot. and that is just about from me for now. you can keep up—to—date over on the bbc sport website this let's go back to our main story and that surprise announcement by the chancellor, kwasi kwarteng, this morning that the government will not press ahead with his plan to scrap the a5p top rate of income tax. this comes a day after the prime minister had said she was "absolutely committed" to the policy. mr kwarteng said the government had listened to concerns about the plan which would have benefited those earning more than £150,000 a year.
nick eardley is at the party good nick eardley is at the party morning. this is a signi u—turn? good morning. this is a significant u—turn? it’s good morning. this is a significant u-turn? �* , : good morning. this is a significant u-turn? �*, ., u-turn? it's a colossal u-turn, sall . u-turn? it's a colossal u-turn, sally- the _ u-turn? it's a colossal u-turn, sally. the kind _ u-turn? it's a colossal u-turn, sally. the kind of _ u-turn? it's a colossal u-turn, sally. the kind of which - u-turn? it's a colossal u-turn, sally. the kind of which you i u-turn? it's a colossal u-turn, i sally. the kind of which you could see from space. but here's the thing, the government has come under really significant pressure over the past week, but even more so over the past week, but even more so over the past 2a hours. we have seen opposition parties say that scrapping the rate of income tax paid by people over £150,000, who earn over £150,000, was the wrong idea. and we have had a growing number of conservative mps stick their head above the parapet to state the exact same. so what i'm expecting is within the next 20 minutes or so, the chancellor will confirm that the government is not proceeding with those plans to scrap the a5p income tax rates. not that they are parking it, not that they
p plans to cut the top rate tax to a0 p and will no longer go ahead with the plan. i have been speaking to people in government and nobody is actually officially commenting on this but that is my expectation, that we are about to see a colossal government u—turn. it was only this time yesterday that the prime minister was on bbc one with laura kuenssberg saying, she absolutely stood by the decision to cut the top rate of tax. there are two things, the level of opposition within the conservative party has been so great that quite frankly, liz truss was facing the prospect of losing the vote on this in parliament. and secondly, i think a political narrative had set in, that by cutting the top rate of tax for people earning over £150,000 and at the same time potentially not putting benefits up at the same rate of inflation which means a real terms cut, the conservatives were
small amount. and the thing that worried the markets, the reason that the pound weakened, the reason that government borrowing became more expensive, is because investors were a bit puzzled as to how the government was going to pay for all of these tax cuts. so this will reduce the bill for those tax cuts by 2 billion but they are still huge, huge amount left that needs to be funded. it will be funded through borrowing but how is that going to be repaid and when? so we wait to see when the numbers are crunched how the markets will react. there is also worth highlighting the individual impact of this change. the reason it was so politically toxic and so controversial is because scrapping the a5p additional rate of tax payable on earnings above £150,000 per year would have saved someone on £200,000, let's say, £3000 per year in tax, £3000 less they would be paying. a millionaire, someone earning 1 millionaire, someone earning 1 million a year, would have saved more than £50,000 in tax, while the
plan to scrap the top rate of income tax have welcomed today's u—turn. the employers group the cbi said it allows the government go forward with what it said are good reforms. after the announcement, the cost of borrowing over five years — which determines most mortgage rates — dropped slightly, but it's still much higher than last week. with his analysis of where the move leaves the chancellor's plans, here's our economics correspondent andy verity. the new rate will be 50% and will come in from april next year. eater come in from april next year. ever since the formula _ come in from april next year. ever since the formula chancellor alistair darling brought in, the top rate for top earners has been a political dividing line. in 2013, george osborne cut it from 50p, to 45 p. it is paid by those earning more than £150,000 a year. that is around 660,000 people. scrapping it would have saved them on average, £10,000 a year. this would have saved them on average, £10,000 a year-— £10,000 a year. this was, the smallest measure _ £10,000 a year. this was, the smallest measure from - £10,000 a year. this was, the smallest measure from a - £10,000 a year. this was, the | smallest measure from a fiscal £10,000 a year. this was, the - smallest measure from a fiscal point of view, not a political point of view in the mini budget. it is about