More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
The British government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows.
In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans to scrap the top 45% rate of income tax paid on earnings above 150,000 pounds (US$167,000) a year.
He and Prime Minister Liz Truss have spent the last 10 days defending the cut in the face of market mayhem and increasing alarm among the governing Conservative Party.
"We get it, and we have listened," Kwarteng said in a statement. He said "it is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our country."
The pound rose after Kwarteng's announcement to around US$1.12 -- about the value it held before the Sept. 23 budget announcements.
The U-turn came after a growing number of Conservative lawmakers, including former ministers with broad influence, turned on the government's tax plans.
"I can't support the 45p tax removal when nurses are struggling to pay their bills," Tory lawmaker Maria Caulfield said.
It also came hours after the Conservatives released advance extracts of a speech Kwarteng is due to give later Monday at the party's annual conference in the central England city of Birmingham. He had been due to say: "We must stay the course. I am confident our plan is the right one."
Truss defended the measures Sunday but said she could have "done a better job laying the ground" for the announcements.
Truss took office less than a month ago, promising to radically reshape Britain's economy to end years of sluggish growth. But the government's announcement of a stimulus package that includes 45 billion pounds (US$50 billion) in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.
The Bank of England was forced to intervene to prop up the bond market, and fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.
The package proved unpopular, even among Conservatives. Reducing taxes for top earners and scrapping a cap on bankers' bonuses while millions face a cost-of-living crisis driven by soaring energy bills was widely seen as politically toxic.
Truss and Kwarteng insist that their plan will deliver a growing economy and eventually bring in more tax revenue, offsetting the cost of borrowing to fund the current cuts. But they also have signalled that public spending will need to be slashed to keep government debt under control.
Kwarteng has promised to set out a medium-term fiscal plan on Nov. 23, alongside an economic forecast from the independent Office for Budget Responsibility.
Axing the top-earners tax rate would have cost about 2 billion pounds, a small share of the government's overall tax-cutting plan. Kwarteng said Monday that the government was sticking to its other tax policies, including a cut next year in the basic rate of income tax and a reversal of a corporation tax hike planned by the previous government.
Tony Danker, who heads business group the Confederation of British Industry, said he hoped the government U-turn would bring stability to the markets.
"None of this growth plan will work unless we have stability. Let's hope this is the beginning of it," he told broadcaster LBC.
Opposition parties said the government should scrap its whole economic plan.
"UK gov U-turns on top tax rate abolition because it's a 'distraction,"' Scottish First Minister Nicola Sturgeon of the Scottish National Party wrote on Twitter. "Morally wrong and hugely costly for millions is a better description. Utter ineptitude."
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
A Sherwood Park family says their new house is uninhabitable. The McNaughton's say they were forced to leave the house after living there for only a week because contaminants inside made it difficult to breathe.
A man has been handed a lengthy hunting ban and fined thousands of dollars for illegally killing a grizzly bear, B.C. conservation officers say.
The B.C. NDP has asked the federal government to recriminalize public drug use, marking a major shift in the province's approach to addressing the deadly overdose crisis.
The Ontario Provincial Police (OPP) says it's investigating an interaction between a uniformed officer and anti-Trudeau government protestors after a video circulated on social media.
An emergency slide fell off a Delta Air Lines jetliner shortly after takeoff Friday from New York, and pilots who felt a vibration in the plane circled back to land safely at JFK Airport.
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
George Mallory is renowned for being one of the first British mountaineers to attempt to scale the dizzying heights of Mount Everest during the 1920s. Nearly a century later, newly digitized letters shed light on Mallory’s hopes and fears about ascending Everest.
A loud explosion was heard across Hamilton on Friday after a propane tank was accidentally destroyed and detonated at a local scrap metal yard, police say.
As if a 4-0 Edmonton Oilers lead in Game 1 of their playoff series with the Los Angeles Kings wasn't good enough, what was announced at Rogers Place during the next TV timeout nearly blew the roof off the downtown arena.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”