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15.10 - 18:31
U.K. Prime Minister Defends Tax Cuts as Market Turmoil Continues
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LONDON—Prime Minister Liz Truss looked to reassure the British public and rattled investors that her plan to cut taxes wouldn’t lead to prolonged financial instability, arguing in a series of interviews on Thursday that the country had been buffeted by global shocks rather than her government’s reforms and that her policies would result in faster growth.
“We had to take decisive action,” Ms. Truss told the British Broadcasting Corp. in her first public comments since the tax plan was presented last Friday. The new prime minister said she wouldn’t backtrack on plans to carry out big tax cuts and spending increases, a package funded by borrowing which raised alarm among investors.
Read more on wsj.comAbout this in other media
Joe Biden calls Liz Truss tax cuts a ‘mistake’ as political fallout continues theguardian.com /1 year ago
Britain’s New Chancellor Says Some Taxes Will Rise wsj.com /1 year ago
U.K. Treasury Chief Kwasi Kwarteng Fired Amid Market Pressure wsj.com /1 year ago
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