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.
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.
Kwasi Kwarteng, the chancellor of the Exchequer, is under pressure to reverse his fiscal plan after it rattled markets and prompted an open backlash among politicians.
Prime Minister Liz Truss appeared to rule out cuts in public spending, as doubts about the fiscal soundness of the government’s program continued to roil the markets.