Less than a month into her tenure as U.K. prime minister, Liz Truss is seeing her political authority rapidly erode as her experiment in British Reaganomics spins out of her control
New prime minister came to office promising Thatcher-esque economic revival, but skepticism has mounted among investors, her own lawmakers
Turmoil in the U.K. bond market created a feedback loop that left investors like pension funds short on cash and rippled out into other markets. WSJ’s Chelsey Dulaney explains the type of investment at the heart of the crisis. Illustration: Ryan TrefesLONDON—Less than a month into her tenure as U.K. prime minister, Liz Truss is seeing her political authority rapidly erode as her bold experiment in British Reaganomics spins out of her control.to try to jolt the U.K.
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Liz Truss Is Roiling the British Economy in Her Zeal to Serve the 1 PercentThe U.K.’s new government has been forced into a humiliating U-Turn, reversing the huge package of tax cuts it recently announced to benefit the wealthiest 1% of income earners.
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UK's Truss to delay vote on cutting 45% rate of tax, The Telegraph reportsBritish Prime Minister Liz Truss could delay the vote on cutting the 45% rate of tax, The Telegraph reported on Sunday citing government sources.
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King Charles III decides not to attend climate summitKing Charles III has decided not to attend the international climate change summit in Egypt next month, fueling speculation that the new monarch will have to rein in his environmental activism now that he has ascended the throne. The Sunday Times newspaper reported that the decision came after Conservative Prime Minister Liz Truss objected to Charles attending the conference, known as COP27, when she met with the king last month at Buckingham Palace. Clarke also rejected suggestions that Truss didn't want Charles to attend the summit because she intends to water down Britain's climate goals.
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Britain's Market-Rocking Tax Cuts Have Been Compared to ‘Reaganomics.' But There Are DifferencesComparisons between the ideology of Liz Truss, who became U.K. prime minister earlier this month, and Ronald Reagan have come thick and fast.
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U.K. scraps tax cut for rich that sparked market chaos“We get it and we have listened,' said Prime Minister Liz Truss, reversing a policy that sent the pound plummeting alongside the government's polling numbers.
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