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Today as we have been hearing from some of our guests already, the decision to reverse the cut in the a5p rate of tax, the top rate of tax, will save the public purse about £2 billion. that is a fairly small amount in terms of the overall unfunded borrowing, the tax cuts that were announced in the mini budget ten days ago. is that going to do anything to steady the nerves of the markets? no i would say slightly. the a5 p tax rate epitomise the overall mini budget, it highlighted the fact that the focus was wrong.

Excruciating for the politicians involved but it is dangerous. why? because it creates a precedent, a president that a government that was saying a couple of weeks ago that it was willing to be unpopular, that would embrace the difficult, well, only embraces the difficult until it becomes too difficult. and so critics within the conservative party and beyond will now look at that colossal list of challenges that colossal list of challenges that the government faces in the coming months, whether it be the benefits bill or broader public sector spending, and wonder, will they have the stomach fo...

LONDON, Oct. 3 (Xinhua) -- The British government on Monday announced it is not proceeding with the abolition of the highest 45-percent rate of income tax follo

It allows the government to go forward with good reforms. of course the slight issue is over borrowing costs for the government. they have improved slightly on where they were 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. 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 45p. it is paid by those earning more than £150,000 a year. th...

To draw a line between her premiership and what went before. and the thing that seems to have tipped things over the edge is abolishing the top rate of tax. and the cumulative effect of all of those tax cuts, i think the market justjudged that it was one tax cut too many. just judged that it was one tax cut too man . �* ., just judged that it was one tax cut too man . . ., ., , just judged that it was one tax cut tooman .�* ., ., , , just judged that it was one tax cut too man . . ., ., , , too many. and how does this look from outside? _ too many. and how does this look from outside? you ...