Truss government and UK market turmoil: What you need to know

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British Prime Minister Liz on power on Thursday, a day after a second top minister was replaced and significant numbers of her Conservative lawmakers defied the government in parliament in a dramatic breakdown of unity and discipline.

to 10.1 percent last month, matching a 40-year high hit in July in a new blow for households grappling with a cost-of-living crisis.are bracing for a potential tax hit after a source said finance minister Jeremy Hunt was reviewing the current surcharge on bank profits.a sharp sell-off in Britain's 2.1 trillion pound government bond market that threatened to wreak havoc in the pension industry and increase recession risks.

* The sell-off began after then-new finance minister Kwasi Kwarteng's tax-cut announcement on Sept. 23. * After firing Kwarteng, a close friend and ally, on Friday, Truss announced that corporation tax would rise to 25% as intended by her predecessor Boris Johnson, reversing her earlier plan to freeze it at 19%. Kwarteng's cut to the highest rate of income tax had already been reversed.of Truss and Kwarteng's economic plan and scaled back her vast energy support scheme, announced in September, in a historic U-turn to try restore investor confidence.

 

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She must’ve thought, well if BoJo can do it, I can do it too! But at least HE was funny…

Funny to imagine that in the little brain of hers she once thought she was up to the job… 🤪

'UK market turmoil' - next you'll be telling us what we need to know about COVID, Brexit and goodness knows what other old mews stories. Isn't the turmoil passed? UK seems as stable as most others.

All u need to know is she lied about doing things got the job then backtrack on it all worse PM ever

This what planned by Putin to make panic which gradually getting worse

Give power to Larry the cat. dude been in politics for 10 years. he wont do worse.

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