Book - live: Truss filmed defending 45p tax cut hours before U-turn

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Kwasi Kwarteng defends sudden U-turn on removal of 45p tax

Prime Minister Liz Truss was still defending the 45p tax rate cut in a TV interview filmed just hours before Kwasi Kwarteng announced her U-turn this morning.

The interview with ITV Anglia was filmed on Sunday evening, shortly before Until rumors started circulating that the government was planning to back down on the proposal - a move eventually announced by Mr Kwarteng at 7.25am on Monday. And the vast majority of the package that was put forward was about the energy package and the cancellation of National Insurance as well as keeping corporation tax low.

Posting on Twitter a few hours before that supposed to defend the plans at the Conservative Party conference, the Chancellor said plans to abolish the 45p tax bracket had 'become a distraction from our overriding mission to meet the challenges facing our country is facing".

The Chancellor's proposals were strongly criticized by the International Monetary Fund (IMF) and prompted a £65 billion emergency intervention by the Bank of England to restore order.

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Kwasi Kwarteng's medium-term plan the medium-term budget plan is still scheduled for on November 23, according to the number o 10.

Asked when the details of the supply side reforms will be released, the Prime Minister's official spokesperson replied: coming weeks on som e areas of the supply side supply side and I think the chancellor has spelled them out in his budget statement.

"They will be looking to address some of the long-standing issues, whether it's financial services or issues like than migration, and there will be more to define, but obviously I can't go into details at this stage.”

Emi...