Correspondent in London
Although he may have been nicknamed the "kamikaze" ("Kami-Kwazi"), the Chancellor of the Exchequer is nonetheless trying to save his skin at the same time as that of his Prime Minister.
Kwasi Kwarteng announced Monday a spectacular U-turn after the announcement of its "mini-budget" which unleashed the storm on the markets, by reversing a tax cut benefiting the wealthiest Britons.
Speaking at a much-anticipated speech at the Conservative Party convention in Birmingham on Monday afternoon, Kwasi Kwarteng admitted it had been a "
rough
" day.
He confirmed that the 45% bracket in the income tax scale – for taxpayers whose income exceeds 150,000 pounds (172,000 euros) per year – would not be abolished.
It was the most contested measure.
Kwasi Kwarteng does not admit error, but considers that the controversy was "
a huge distraction
" eclipsing "
a solid body of...
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