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UK government to bring forward next financial statement

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The UK government has backflipped on plans to scrap the 45 per cent rate of income tax for higher earners.

Chancellor Kwasi Kwarteng says the proposals, which were announced just 10 days ago, had become “a massive distraction on what was a strong package”.

Kwateng says his party has talked and listened to people and he gets the frustration.

The decision comes after several Tory MPs criticised the plan and marks a dramatic comedown for Prime Minister Liz Truss.

Critics believe the proposal to cut the income tax rate would have sent the wrong signal at a time when many UK workers are struggling financially.

But Kwaterang says this element of the proposal was “drowning out a strong package”, filled with support for energy bills, and cuts to the basic rate of income tax and corporation tax.

He says his government is committed wholly to economic growth.

Kwasi Kwarteng is set to bring forward his next financial statement from 23 November.

The medium-term financial plan will happen this month but an exact date has not yet been confirmed.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

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Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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