One of the Tory Party’s richest donors has launched an attack on the government over plans to scrap the 45 per cent tax rate.
John Caudwell, the billionaire founder of Phones4U, said the scrapped policy was “stark raving mad”
He added: “There was no political sense in it. There was no sense of fairness.”
Chancellor Kwasi Kwarteng was forced to U-turn on his plans to scrap the highest rate of income tax after the proposal sent the markets into meltdown.
Mr Caudwell, who gave £500,000 to the Tories in 2019, told Bloomberg: “I’d love to meet with Kwasi Kwarteng so he could tell me what he was thinking.
“I’d be amazed if I didn’t shoot him down in flames at every turn because it was madness.”