Liz Truss ditches another big tax cut and fires her finance minister | CNN Business

At a Downing Street news conference, Truss said she was scrapping plans to reverse a rise in business taxes, a move that will save £18 billion , after a revolt by investors and members of her own Conservative Party worried about the impact of soaring government borrowing at a time of decades-high inflation. It was the second climbdown on a key policy this month: On Oct. 3 the government ditched its plan to slash the top rate of income tax, just over a week after it was announced.

The unfunded tax cuts have been roundly criticized by investors, the International Monetary Fund, credit ratings agencies and members of Truss’ own party, some of whom are now reportedly talking about removing her just five weeks into her premiership. Kwarteng had flown back from the IMF meeting in Washington, D.C., overnight for discussions with Truss. His dismissal Friday means he held the job of UK Chancellor of the Exchequer for just 38 days, the second-shortest tenure on record.

Get Rishi back! Country needs him👍

Foundation when tories regained power, was already wobbly so how would something stable come out of it? It seems like a downfall from here on...

History MONEY

Jeremy Hunt will probably the next in line for the Prime Minister's job.

Ireland is a small country & was under British rule for almost one thousand year! They are less than 100 years old & becomes jealous when they see a big country with 3000 years old civilization like Ethiopia! They want to satisfy their ego! You know inferiority complex! NoMore

Why is this happening?

What do u expect, when the former minister Boris Johnson was forced out of office, let UK enjoy the fruit of their labour...

And Truss owns this earthquake.

At this age, American President Joe Biden should worry more about his trembling legs than about the nuclear assets of any other country, for the protection of which the people there know how to give their lives and also take someone else's.

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The U.K. prime minister fired her finance chief, a sign she may change course on taxesBritain's Prime Minister Liz Truss has fired her finance minister and canceled a planned tax cut for the country's highest earners — efforts designed to calm financial markets and her own conservative party. When I knew saving me can save good people of the world, I immediately told people. As long as Xi Jinping save me on real revolutionary way, he will not lose power. Westerners are also watching “others be kill”, can’t saving easily, so they will end up the same as Xi Jinping! So, she realized that her plan was dumb. Liz Truss making her debut as PM:
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