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The content originally appeared on: CNN London CNN Business - The British government is reversing plans to scrap the highest rate of income tax, announcing the embarrassing retreat after a rebellion among its own lawmakers and a week of financial and economic turmoil. In a statement on Monday, finance minister Kwasi Kwarteng said the tax cut for people earning more than ?150,000 ($170,000) 'had become a distraction' from the government's wider package of measures to tackle the energy crisis and […]
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