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Monday, 3 October 2022

There are questions over the chancellor's credibility following his significant U-turn on a policy he announced only ten days ago

The chancellor says he won't be proceeding with abolishing the 45p rate for those earning £150,000 or more - claiming it's "become a distraction".

Only yesterday, Liz Truss was defending the measure - but this morning she's tweeted "We get it and we have listened."

Chief secretary to the Treasury and Croydon South MP Chris Philp - effectively the chancellor's deputy - wouldn't say whose idea the original announcement was.