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if gas prices keep rising. fuelling controversy. opec slashes production to boost oil prices, sparking an angry reaction from president biden. plus too broke for beauty? women around the world say they are cutting back on cosmetics so how is the industry responding? we ll hear from a top entrepreneur. we start here in the uk, where as you ve been hearing, prime minister liz truss has been presenting her plans to boost the economy in her keynote speech to the conservative party conference in birmingham. she re stated her commitment to lowering taxes just two days after being forced to abandon a pledge to cut income tax for the highest earners. markets remain nervous about the outlook for the uk s finances under ms truss s government after the mini budget statement on september 23rd that sent the pound to a record low and borrowing costs soaring. but she argues the disruption will be worth it. whenever there is change, there is disruption. and not everybody will b ....
But serious concerns on financial markets about the affordability of tax cuts and the risk they will make inflation worse as recession looms in the uk. on wednesday, credit rating agency fitch cut its outlook for the uk s credit rating from stable to negative following a similar move by rival standard and poors. government borrowing costs are on the rise again, and for homeowners, the average interest charged on a two year fixed rate mortgage hit 6% for the first time in 14 years. all threatening to derail trussonomics before it has even got under way, as our economics editor faisal islam explains. growth, growth, growth, that provides its own metric by which tojudge the which to judge the effectiveness of entire liz truss government after that conference speech but there are more immediate challenges, some of the after shocks of the financial turbulence after the mini budget are only now reaching the real economy. that can be seen in the mortgage market which normally moves ....