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British Chancellor of the Exchequer Jeremy Hunt speaks at the House of Commons, in London, Britain, October 17, 2022. Photo provided by UK Parliament/Jessica Taylor/Handout via REUTERS

World Oct 17

New UK Treasury chief reverses controversial economic plan

By Jill Lawless, Danica Kirka, Associated Press

World Oct 16

British Prime Minister Liz Truss attends a news conference in London
British Prime Minister Liz Truss goes from triumph to trouble in six weeks on the job

In just six weeks, the prime minister’s libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief.

By Jill Lawless, Associated Press

World Oct 14

PM hopeful Jeremy Hunt walks near the Parliament grounds in London
UK names fourth treasury chief in a year amid economic turmoil

Prime Minister Liz Truss appointed former Cabinet minister Jeremy Hunt to the post — the fourth Treasury chief in the U.K. this year.

By Danica Kirka, Jill Lawless, Associated Press

World Oct 13

British Chancellor of the Exchequer Kwasi Kwarteng speaks during Britain's Conservative Party's annual conference in Birmingham, Britain, October 3, 2022. Photo by Hannah McKay/REUTERS
Despite economic turmoil, UK Treasury chief says tax-cutting plan stays

Britain's Treasury chief has rejected suggestions that the Conservative government would reverse course on economic plans that have roiled financial markets.

By Danica Kirka, Jill Lawless, Associated Press

World Oct 03

British Chancellor of the Exchequer Kwasi Kwarteng speaks during Britain's Conservative Party's annual conference in Birmingham, Britain, October 3, 2022. Photo by Hannah McKay/REUTERS
UK scraps tax cut for wealthy that sparked market turmoil

The British government has dropped plans to cut income tax for top earners. The move was part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows.

By Jill Lawless, Associated Press

Sep 26

British pound plunges to new, all-time low as proposed tax cuts spark economic concerns

By Danica Kirka, Jill Lawless, Associated Press

The British pound has fallen to an all-time low against the U.S. dollar after the government pledged a sweeping package of tax cuts that have fueled concerns about its economic policy.

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Sep 20

UK government says lights will stay on despite energy price surge

By Danica Kirka, Associated Press

Britain's business secretary says there is no danger that people won't be able to heat their homes this winter after a surge in natural gas prices forced him to hold emergency talks with energy suppliers and consumer groups.

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