Despite coming into power just weeks ago, the current Conservative government is already facing pressure to call a general election after a chaotic few weeks.
The announcement of a new mini-budget from Prime Minister Liz Truss and Chancellor Kwasi Kwarteng on September 23 sparked huge backlash, with major tax cuts including getting rid of the top tax bracket for the highest earners as part of the measures.
In the days following the announcement, a large dip in the value of the pound and rising interest rates even saw the Bank of England launch an emergency programme to protect the UK from 'material risk' to financial stability. READ MORE:“What an absolute s***show": Voters react to government after income tax U-turn The budget had been set to cost £70 billion with extra borrowing being used to fund it, with the planned tax cut on the 45% bracket for top earners set to have cost £2 billion a year.
However, the government has since announced a U-turn on this policy, with the Chancellor confirming the news when appearing on BBC Breakfast on Monday morning.
Read more on manchestereveningnews.co.uk
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