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Embattled British Prime Minister Liz Truss sacked her Treasury chief and reversed course on a major part of her tax-cutting economic plan Friday as she struggled to hang on to her job after weeks of turmoil on financial markets. But the market response was muted and the political reaction to what many saw as panicked moves left Truss' credibility in tatters after only six weeks in office.
LONDON — Embattled British Prime Minister Liz Truss sacked her Treasury chief and reversed course on a major part of her tax-cutting economic plan Friday as she struggled to hang on to her job after weeks of turmoil on financial markets. But the market response was muted and the political
Embattled British Prime Minister Liz Truss sacked her Treasury chief and reversed course on a major part of her tax-cutting economic plan Friday as she struggled to hang on to her job after weeks of turmoil on financial markets. But the market response was muted and the political reaction to…
The future of Liz Truss is in doubt less than six weeks after she took office.
In her first month as leader of the ruling Conservatives, U.K. Prime Minister Liz Truss plunged the British economy into chaos. A major tax cutting plan for top earners and corporations — meant to stimulate the economy as energy costs soar — terrified financial markets so deeply, it sent interest rates skyrocketing, drove the pound into the ground, and required an urgent intervention from the Bank of England. Truss changed course, and the economy is back from the brink, but Britain's fragile state post-Brexit begs the question: Is the U.K. ok? Today on Front Burner, Tim Bale, profes...