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British finance minister Kwasi Kwarteng acknowledges ‘tough’ day after U-turn over tax cut for rich

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British finance minister Kwasi Kwarteng adjusts his glasses during Britain's Conservative Party's annual conference in Birmingham (REUTERS/Toby Melville)

British finance minister Kwasi Kwarteng adjusts his glasses during Britain's Conservative Party's annual conference in Birmingham (REUTERS/Toby Melville)

British finance minister Kwasi Kwarteng adjusts his glasses during Britain's Conservative Party's annual conference in Birmingham (REUTERS/Toby Melville)

UK Chancellor of the Exchequer Kwasi Kwarteng has urged Tories to "focus on the task in hand" as he battles to restore his authority after a dramatic U-turn over tax cuts for the rich.

Just hours before his set piece speech at the Conservative Party conference Mr Kwarteng abandoned his plan to scrap the 45p income tax rate for people earning more than £150,000 to stave off a mounting Tory revolt.


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