Truss, Liz
Rishi Sunak is tearing up key aspects of Liz Truss's growth plan, including the fracking ban and state pension commitments, as he delays the autumn budget to November 17. The Prime Minister has also reimposed the fracking ban in England, which his predecessor controversially scrapped. Sunak's
Truss, Liz
Rishi Sunak, the new prime minister of Britain, has assembled a "unity cabinet" to tackle the country's economic crisis. The cabinet includes a mix of senior ministers who supported an abortive comeback bid by former premier Boris Johnson, as well as those who were part of
Truss, Liz
In a dramatic reversal, new UK Chancellor of the Exchequer Jeremy Hunt scrapped most of Prime Minister Liz Truss' economic plan on Monday, undoing the tax cuts and spending plans announced just a month ago. The sudden change has raised questions about how long Truss can stay in office.
Truss, Liz
Jeremy Hunt, the new finance minister, sought to rebuild investor confidence in Britain by reversing nearly all of Prime Minister Liz Truss's mini-budget, which had sparked market turmoil. The move, aimed at halting a bond market rout, involves increasing taxes and cutting spending to restore stability and confidence.
Truss, Liz
Prime Minister Liz Truss's government is facing a major crisis over its "mini" Budget, with Chancellor Kwasi Kwarteng due to return from IMF meetings in Washington on Saturday facing pressure to scrap a series of unfunded tax cuts. The package, worth £43bn, has been widely criticized
Truss, Liz
The UK economy teeters on the edge of chaos as the rift between the government and the Bank of England (BoE) grows deeper. The BoE is struggling to clean up the mess left by Liz Truss's government's "mini" Budget, which announced the biggest tax
Truss, Liz
Following a growing rebellion and widespread criticism, Chancellor Kwasi Kwarteng has reversed his plan to abolish the 45% tax rate on earnings over £150,000, a move seen as a potential blow to the authority of Prime Minister Liz Truss. The decision was announced just hours before Kwarteng was due
Truss, Liz
Liz Truss has acknowledged that the Government "should have laid the ground better" ahead of her mini-Budget, sparking market turmoil and public concern. Despite criticism from her own party and severe market reaction, the Prime Minister is standing firm on her tax-cutting package, including the abolition of the
Truss, Liz
Personal finances have become the new battleground in Britain's economic crisis, with households bracing for the impact of rising mortgage rates and decreasing pension values. The government's decision to borrow heavily to fund tax cuts has sparked a full-blown financial crisis, with mortgage rates soaring and
Truss, Liz
The UK government has reiterated its commitment to its growth plan, despite mounting pressure from international organizations and economic indicators that suggest the plan may be fueling economic chaos. In a series of local BBC radio interviews, Prime Minister Liz Truss insisted that the government's tax-cutting measures are
Biden, Joe
British Prime Minister Liz Truss has revealed that a UK-US trade deal is not on the horizon, contradicting Brexit supporters' claims that the 2016 Leave vote would open the way for a free trade agreement with the US. Truss made the admission during her first overseas trip as prime
Prime ministers
Liz Truss, the UK's prime minister, has unveiled a plan to drastically cut taxes, sparking warnings from experts and business groups about the potential consequences for the country's public finances. Truss and her chancellor, Kwasi Kwarteng, aim to reverse the hike in national insurance contributions, scrap
