British PM makes second tax U-turn after abruptly sacking Chancellor
Elizabeth Piper
Updated
London | British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng and scrapped parts of their unpopular economic package on Friday in a desperate bid for political survival less than 40 days into her premiership.
With financial markets in turmoil, a chastened Truss said she accepted her government’s plans for unfunded tax cuts had gone “further and faster” than investors were expecting.
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Bloomberg and Reuters
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