U.K. Scraps Tax Cuts For Wealthy That Sparked Market Turmoil



Watch VideoThe British government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows.

*SEE MORE: British Pound Plunges To Record Low As Tax Cuts Spark Concern*

In a dramatic...

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