U.K. Exempts Charity Giving From Tax Cap in Budget U-Turn

U.K. Chancellor of the Exchequer George Osborne scrapped proposals to include charitable donations in a cap on tax relief, his third U-turn over a budget measure this week.

The cap, limiting tax relief to 50,000 pounds ($77,000) or 25 percent of income, had sparked protests from charities that warned they could lose a significant part of their income.