ANDOVER'S MP has supported his cabinet colleague's decision following a U-turn on plans to scrap the 45p tax cut for top earners. 

The Chancellor Kwasi Kwarteng released a statement on Twitter ahead of his appearance on BBC Breakfast on Monday morning.

Mr Kwarteng confirmed that the tax cut for people earning more than £150,000 would be scrapped just 10 days after it was announced in the mini-budget.

The U-turn comes after several Tory MPs voiced their opposition to the plan as the Tory party conference continues.

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Following the announcement, Andover's MP Kit Malthouse said: “The Chancellor recently introduced a huge package of support to help people with rising energy bills and global inflation.

“At the same time, he set out bold plans designed to cut taxes across the board, including for the lowest paid, create jobs, and grow our economy.

“As any good government should do, he has continually met and listened to various experts, and has decided now is not the right time to prioritise cutting the 45p tax rate.”

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In his statement on Twitter, Mr Kwarteng said: "From supporting British business to lowering the tax burden for the lowest paid, our Growth Plan sets out a new approach to build a more prosperous economy.

"However, it is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle challenges facing our country.

"As a result, I am announcing that I am not proceeding with the abolition of the 45p tax rate.

"We get it, and we have listened.

"This will allow us to focus on delivering the major parts of our growth package."