45p tax cut U-turn: Now scrap corporation tax cut and bankers bonuses too

EMBARGO: For Immediate Release

Responding to Kwasi Kwarteng's U-turn on abolishing the 45p rate of tax, Liberal Democrat Leader Ed Davey said:

"This humiliating U-turn comes too late for the millions seeing their mortgage rates soar because of this botched budget. 

"The Conservatives must now cancel their conference and recall Parliament, to sort out this mess for the sake of the country.

“The corporation tax cut and the bankers bonus rise need to be scrapped and we need a clear plan to help mortgage borrowers cope with eye-watering interest rate rises. It can’t be right that big banks and huge companies will see their taxes slashed while people struggle to pay the bills.

"Every day it becomes clearer this Conservative government has no plan, no clue and is completely out of touch."

ENDS