#UK #UKPrimeMinister #RishiSunak #Financialmarkets #UKcrisis
UK Prime Minister Liz Truss resigned today, bringing an end to a controversial reign amid fallout over her ambitious tax cut policy. "I recognise, given the situation, I cannot deliver the mandate on which I was elected. I have spoken to King Charles to notify him I’m resigning as leader of the Conservative Party," Truss said. In a bid to survive the political crisis, Truss had ripped up the mini-budget that caused turmoil in financial markets and replaced Kwasi Kwarteng as chancellor with Conservative leader Jeremy Hunt. The cost of government borrowing rose and the pound fell further following her press conference announcing the changes. Here is a report by Business Today.
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