News Formal

New UK finance minister Hunt reverses Truss' economic plan in dramatic U-turn

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

Britain's Chancellor of the Exchequer Jeremy Hunt has now reversed all the policies that helped Liz Truss become Conservative Party leader and premier less than six weeks ago.

, Truss fired Kwarteng on Friday, saying she accepted her plans had gone “further and faster” than investors were expecting.

The Resolution Foundation think tank said Britain was again embarked on a “tax raising economic agenda,” with typical households set to lose around 1,000 pounds of income. “She is making the necessary difficult decisions to change our approach so we can provide the economic stability and maintain that stability of leadership which is important as well,” he said.

The fourth British prime minister in six years, Truss was only formally appointed to the role on September 6.

 

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 US

United States United States Latest News, United States United States Headlines

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

UK finance minister Hunt vows to win back financial market trust'What I'm going to do...is to show the markets, the world...that we can properly account for every penny of our tax and spending plans,' says newly appointed British finance minister Jeremy Hunt.
Source: rapplerdotcom - 🏆 4. / 86 Read more »