LONDON—New U.K. Treasury Chief Jeremy Hunt said Monday he was reversing nearly all the government’s proposed tax cuts and would pare back an energy price-cap subsidy as he moves to reassure markets about the stability of the nation’s finances.
The moves sparked a broad rally in the pound, stocks and government bonds, but led to growing doubts about whether Prime Minister Liz Truss would be able to survive in government for much longer after her signature economic policy caused chaos on markets and has now been reversed.
Source Article from https://www.wsj.com/articles/new-u-k-chancellor-to-release-new-public-spending-tax-policies-11665987080
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