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Britain’s New Finance Minister Junks PM’s Plans in Spectacular Reversal of Tax Cuts

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British Prime Minister Liz Truss was dealt another disastrous blow to her credibility on Monday as her new finance minister reversed “almost all” of her signature tax cuts.

, ultimately forcing Kwarteng into making humiliating policy reversals of his own before being replaced.

Now Hunt has announced further reversals including junking plans to cut the basic rate of income tax and dividend tax, effectively killing Truss’ economic vision. “The British people rightly want stability, which is why we are addressing the serious challenges we face in worsening economic conditions,” Truss tweeted after Hunt’s statement.

 

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