The government has dropped its plan to abolish the 45% rate of income tax after Chancellor Kwasi Kwarteng acknowledged that it was proving a "massive distraction".
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Mr Kwarteng announced a series of tax cuts and changes in his mini-budget on September 23, before performing the U-turn. The government has not said how they will be paid for.
So how many people will benefit from them and how much will they cost?
Income tax 45% rate
The top rate of income tax for those earning more than £150,000 a year was reduced from 50% to 45% by then Chancellor George Osborne from April 2013.
A decade on, the rate was to have been abolished in England, Wales and Northern Ireland, leaving top earners paying the 40% rate instead. Mr Kwarteng has confirmed that this will not now go ahead.
The government said it would have meant a tax cut for 660,000 people next year.
The Treasury said the policy would cost around £2.2bn in 2025-26 and £2.1bn the following year. The costings in the first few years of the policy were uncertain because of wealthy taxpayers being expected to move their earnings between years to take advantage of the cut.
Income tax basic rate cut
The rate of income tax payable on incomes between £12,571 and £50,270 a year - known as the basic rate - will be cut from 20% to 19% from April 2023.
That should benefit 31 million income taxpayers in England, Wales and Northern Ireland.
The government expects this cut to cost just over £5bn in the first year. It's important to remember that this costing - and the others - haven't been checked by the Office for Budget Responsibility (OBR), as they would usually be for a budget.
