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UK reverses tax cut for wealthy after market turmoil, anger in governing party

British Finance Minister Kwasi Kwarteng spoke Monday about the decision by the government to reverse a cut to the highest income tax bracket after he said it had become a "huge distraction" from the overall tax plan. The decision came after the plan triggered turmoil in the markets due to investor confidence, and saw a rebellion from some in new Prime Minister Liz Truss' party less than a month since she took power.