Truss now faces calls to resign, a signal to other world leaders that aggressive economic policymaking in the current climate of fragility can spook investors and cost lawmakers their jobs.Pounds, bonds, and emergency action
Investors feared the cuts would accelerate already-high inflation, force the Bank of England to hike interest rates by more than expected, and blow a hole in the national budget. This, in turn, threatened to worsen the UK's cost-of-living crisis, choke economic growth, and push the country closer to fiscal meltdown.
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New fiscal approach by new UK finance minister Jeremy HuntHunt spent his first weekend in the role coming up with a radically different financial plan from that of UK Prime Minister Liz Truss
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