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Britain’s new finance minister Hunt reverses Truss’s economic plan in dramatic U-turn

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The changes to the planned tax cuts would raise £32 billion every year, Hunt said. Read more at straitstimes.com.

that had sparked market turmoil, and reined in a vast energy subsidy plan, saying the country needed to rebuild investor confidence.to fix the public finances after Truss’s economic plan hammered the value of British assets, said the country needed to generate confidence and stability before it could seek to grow the economy.

“There will be more difficult decisions to take on both tax and spending as we deliver our commitment to get debt falling as a share of the economy over the medium term,” Hunt said. “The British people rightly want stability, which is why we are addressing the serious challenges we face in worsening economic conditions,” Truss said on Twitter.

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