Chancellor's income tax 'U-turn' – what the papers say

Here's what the papers had to say on this… ‘Better than expected economic forecasts' While the announcement gave gilt markets a wobble, the BBC reported that the decision not to raise income taxes followed "better-than-expected" economic forecasts, citing government sources. It noted that a proposal to increase income tax rates by 2p, alongside a 2p cut to National Insurance (NI), was submitted to the Office for Budget Responsibility (OBR) earlier this month for costing. The initial FT report said to have scooped the move away from an income tax rise suggested that the gap in pub...