Pound Rallies as Liz Truss Announces Resignation
The pound rose against the dollar and government borrowing costs dipped as investors reacted to Prime Minister Liz Truss’s resignation. Sterling hit $1.13 as the PM made her announcement, and…
UK Prime Minister Liz Truss Apologizes for Mini-Budget ‘Mistakes’
British Prime Minister Liz Truss on Monday apologized for her controversial mini-budget that crashed the country’s currency, rattled financial markets and led to her firing her finance minister and closest…
UK: Government Borrowing Costs Rise After PM’s U-turn
Government borrowing costs rose on Friday afternoon after the prime minister announced another U-turn on the mini-budget. The pound, which initially held firm earlier on Friday, also lost ground. The…
The Mood In Britain’s Ruling Party is Bleak As Truss Faces Fury From Lawmakers
Spare a thought for British Conservative members of parliament. The governing party of the United Kingdom thought they had it bad with scandal stricken Boris Johnson wrecking their poll numbers…
UK Government Forced To Ditch Plan To Slash Top Rate Of Tax
The British government is reversing plans to scrap the highest rate of income tax, announcing the embarrassing retreat after a rebellion among its own lawmakers and a week of financial…