Market expert gives verdict on U-turn on scrapping 45p tax rate

The video discusses the UK government's decision to reverse a planned cut to the 45% income tax rate due to market backlash, public disapproval, and internal party pressure. The unfunded nature of the tax cuts led to economic instability, prompting a U-turn. The government now faces challenges in restoring credibility and planning future economic measures. Market reactions have been volatile, with slight improvements following the reversal, but further clarity and sensible planning are needed to stabilize the economy.

What impact did the public's response have on the Conservative Party's MPs?

What challenges does the government face in restoring credibility after reversing the tax cuts?