In the United Kingdom, at the time Prime Minister Liz Truss borrowed money

Liz Truss, with a closed face, looks straight ahead, sitting in her designated seat in the House of Commons. The scene is startling, almost painful: on the afternoon of Monday, October 17, the chairman listens to her The new Chancellor of the Exchequer (British Finance Minister), Jeremy Hunt, has formally destroyed the “mini-budget” he has fiercely defended since it was made public on 23 September. He is still Prime Minister of the United Kingdom, but he has lost the game.

The leader has just been stripped of the major political action he held at the heart of his Conservative primary campaign. Now the financial markets are dictating the tempo for the government and Jeremy Hunt. The latter was appointed on October 14 Instead of “mini-budget” architect Quasi Quarteng with Liz Truss, leading investors to try to restore confidence lost after the ill-received reception of Liz Truss’s economic plans – massive unfunded tax cuts. The Bank of England had to intervene on several occasions to support British government bonds.

No more attacks against said person “Coalition Against Growth” Denigrating his plans or dreams “Singapore on the Thames” That’s Liz Truss, follower “Less State and Taxes”, It is believed to be implemented. The “priority” The country is now “stability”, lashed out at the new Chancellor of the Exchequer. Jeremy Hunt, a former health minister under David Cameron and Theresa May and considered a moderate in the Tory ranks, announced he would abandon a planned cut in the first tax bracket from 20% to 19% of income. He also confirmed that the corporate income tax will increase from 19% to 25% in April 2023.

“Frugality, Season 2”

Jeremy Hunt, a two-term failed prime minister, sacrificed part of the massive £100bn (€115bn) bailout package announced by Liz Truss on September 8, two days after arriving in Downing Street. The mechanism, which aims to cap household energy bills by an average of £2,500 a year for the next two years, has been well received by the media and markets, and the leader has taken advantage of it to avoid embarrassing questions about it. “Mini Budget”. The help will now only last for six months: from April 2023, it will only benefit the most vulnerable families, Mr Hunt said.

You should read 59.11% of this article. The following is for subscribers only.