STROUD MP Siobhan Baillie says she is 'pleased' with the decision taken not to abolish the top rate of income tax for the highest earners. 

Prime Minister Liz Truss and chancellor Kwasi Kwarteng have abandoned their plan with the chancellor acknowledging that their desire to axe the 45 per cent rate on earnings over £150,000 in a move to be paid for by borrowing had become a “distraction” amid widespread criticism.

"I am pleased the Chancellor has decided not to abolish the 45p tax band," said Ms Baillie. 

"There is much to be applauded in the mini-budget but such a change was putting me in the position of potentially being unable to vote measures through.   

"The Chancellor said that the debate over whether it should go ahead has been a distraction and it has overshadowed the good work the government is doing to support everyone through energy price rises and general cost-of-living pressures.  

"He is right.  

"The plan was actually to bring the top tax rate down to the same level that it was under the last Labour government and was made alongside a reduction to lower tax bands too.  

"Yet it was more controversial due to the timing and poor communication to explain why the change may be cost neutral to the taxpayer and benefit the country in the long run.  

"As I have said repeatedly, privately and publicly, my constituents and businesses here are looking at economic issues around the world and they are desperately worried about the winter months.  

"It is important to keep highlighting the targeted support for the most vulnerable this winter, the Energy Price Guarantee that is supporting all households and similar effective support for our businesses and organisations like care homes and schools across Stroud so people know what is available.   

"These are solutions making a difference to everyone right now. 

"There are positives in the Growth Plan unveiled by the Chancellor.

"The fact is the tax burden for everyone is too high.

"Our public services like the NHS need the country to achieve growth after the pandemic and part of doing that means reducing the tax burden for everybody and increasing productivity."