Kwasi Kwarteng admits tax cut on 45p rate was a ‘huge distraction’

The 45p tax rate cut was a "huge distraction" from other parts of the mini-budget, Kwasi Kwarteng has admitted after making an astounding U-turn on the policy.

Speaking to BBC Breakfast, the chancellor lauded the government's "energy price guarantee" and the 1p cut to the basic rate of income tax, but admitted the 45p rate cut was taking attention away from these policies.

"The 45p rate was a huge distraction, people were concerned about it, and frankly we listened to those concerns," Mr Kwarteng said.

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