LONDON — The U.K. government’s reversal on scrapping the top rate of income tax is down to political optics and will not reassure market skittishness over its economic plan, analysts told CNBC Monday.
The tax cut, which Prime Minister Liz Truss was defending just hours before, would have abolished a 45% rate paid on annual income over £150,000 ($166,770).
Paul Dales, chief U.K. economist at Capital Economics, said it would have a limited…