Jeremy Hunt, the new chancellor of the Exchequer, announced a sweeping reversal in an effort to steady the markets and reduce the pressure on Prime Minister Liz Truss.
Tag: Conservative Party (Great Britain)
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Britain’s New Finance Chief Repudiates Prime Minister’s Signature Economic Plan
With Liz Truss’s authority ebbing, questions abound about how long she can cling to her post.
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Under Fire, Liz Truss Retreats on Economic Strategy
Fighting for her political survival, Prime Minister Liz Truss fired her top ally and reversed course on tax-cutting plans, trying to shore up financial markets and her poll ratings.
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For Truss and the Tories, a ‘Fairy Tale’ Unravels
Having abandoned her signature economic plan, it remains unclear whether the British prime minister or her party can reclaim a mandate.
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Kwasi Kwarteng Is Fired as U.K. Finance Minister
Kwasi Kwarteng, the chancellor of the Exchequer, was under pressure to reverse his fiscal plan after it rattled markets and prompted an open backlash among politicians.