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.
Tag: Economic Conditions and Trends
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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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Lessons From Liz Truss’s Handling of U.K. Inflation
The sharp policy U-turn by Liz Truss, Britain’s prime minister, reveals the perils of taking the wrong path in the fight against scalding inflation.
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U.K. Markets Slump Despite Kwasi Kwarteng’s Ouster
Kwasi Kwarteng, the chancellor of the Exchequer, was fired on Friday by Prime Minister Liz Truss in a bid to end weeks of market turmoil.
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Andrew Bailey Battles Inflation Amid Britain’s Financial Storm
Andrew Bailey, the Bank of England chief, is trying to calm markets, wrestle inflation and maintain the bank’s credibility amid Britain’s financial storm.