10 days, 4 denials and 1 major Bank of England intervention later, Britain’s finance minister - known as the Chancellor has cancelled his proposed scrapping of the top rate of income tax for those earning more than £150k. 

It follows a very negative reaction on the markets including a pounding of the Pound all last week. One man who knows how international markets work is Professor David Blanchflower and joined Joe on the show this morning.