Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

UK's New Treasury Chief Completes Reversal of Truss's Tax Plans


For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.

There are U-turns and then there is spinning around a rotary until you end up where you started. In the United Kingdom, they prefer the latter.

Immediate and widespread objection forced Prime Minister Liz Truss's government to swiftly trash budget proposals earlier this month that threatened to send England's tax code back to 1982 -- and led to the dismissal of Chancellor of the Exchequer Kwasi Kwarteng last week. On Monday, with Truss on the ropes, newly appointed treasury chief Jeremy Hunt grabbed hold of the nation's economic reins and laid out his plan to shore up public finances.

Continue reading


Source Fool.com


Comments