The UK government on 3 October 2022 decided to scrap its earlier plan to abolish the top 45% marginal income tax rate for earned income in excess of GBP 150,000. Although the budgetary cost of the top rate abolition was estimated at a relatively modest GBP 2 to 3 billion (compared to the mini-budget's proposed total of GBP 45 billion in largely unfunded tax cuts), it drew opposition from several corners, including from the IMF and from within the conservative parliamentary majority. The gove…