Britain's political and market turmoil

  • 📰 Reuters
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Prime Minister Liz Truss for threatening Britain's economic stability after she was forced to scrap her economic agenda, with some Conservative lawmakers calling on her to quit.

for threatening Britain's economic stability after she was forced to scrap her economic agenda, with some Conservative lawmakers calling on her to quit.the radical economic agenda she proposed less than a month ago, reversing her vast tax-cutting plans and flagging a programme of "eye-watering" public spending cuts instead.Register now for FREE unlimited access to Reuters.com* Truss said was sorry for going "too far and too fast" with her radical economic plan.

* "I do want to accept responsibility and say sorry for the mistakes that have been made," Truss told the BBC late on Monday. * She said she was "sticking around" and that she would lead the Conservatives into the next election, but some of her lawmakers are calling on her to quit. * James Heappey, a minister for the armed forces, said Truss, his boss, could not afford to make any more mistakes. "To her credit, she has owned it and apologised," he told Sky News.* The Bank of England dismissed on Tuesday a report in the Financial Times suggesting it was likely toThe BoE was forced to intervene in the government bond market after Truss's Sept. 23 "mini-budget" to prevent a collapse of pension funds.

* The BoE's statement on Tuesday prompted a moderate hit to British government bond prices, with the 10-year gilt yield GB10YT=RR rising 4 to 5 basis points as a result.* The UK's main equity indexes

 

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:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

UK Prime Minister Liz Truss apologizes for mini-budget 'mistakes' | CNN BusinessBritish Prime Minister Liz Truss on Monday apologized for her controversial mini-budget that crashed the country's currency, rattled financial markets and led to her firing her finance minister and closest political ally. oh good, she's sorry she did all that First the clown. Now the incompetent. Liz Truss is a fool to make the worst mistakes for a PM therefore she shall become the shortest serving British PM in history.
Source: cnni - 🏆 326. / 59 Read more »

U.K. Prime Minister Truss abandons her agenda to stem market meltdownU.K. Prime Minister Liz Truss is still officially in charge, but hardly seems to be in control.
Source: axios - 🏆 302. / 63 Read more »