Britain’s new finance minister Hunt reverses tax plan, reins in energy support

  • 📰 STForeignDesk
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 71%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

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.

“I remain extremely confident about the UK’s long term economic prospects as we deliver our mission to go for growth,” he said in a televised clip. “But growth requires confidence and stability, and the United Kingdom will always pay its way.” She has been forced to reverse course after markets reacted violently to her plan, hammering the value of the pound and government bond prices and forcing the Bank of England to intervene to protect pension funds.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New UK finance minister faces market verdict after gutting Truss's plansLONDON: Britain's new finance minister Jeremy Hunt faces an early test of his attempt to stem the crisis of confidence in Prime Minister Liz Truss on Monday (Oct 17) when the bond market delivers its verdict on his weekend overhaul of her economic programme. Truss
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

UK finance minister Jeremy Hunt vows to win back financial market trustLONDON: New finance minister Jeremy Hunt promised to win back Britain's economic credibility by fully accounting for the government's tax and spending plans, while insisting his boss Liz Truss remained in charge of the country. Prime Minister Truss appointed Hunt on Friday (Oct 14) in an attempt to rescue
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

New UK finance minister vows to show markets he can fix budgetInvestors have sold British government bonds heavily since Mr Jeremy Hunt's predecessor announced a string of unfunded tax cuts. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »

BoE chief has 'meeting of minds' with new UK finance ministerFormer chancellor Kwasi Kwarteng was sacked after a controversial budget plan caused market upheaval. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »

Zambia in touch with China, other creditors, finance minister saysJOHANNESBURG: Zambia remains in touch with China and all its other creditors as it continues to negotiate a debt restructuring, finance minister Situmbeko Musokotwane said at an International Monetary Fund press conference on Saturday (Oct 15). There is no alternative for Zambia, the first African country
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »