The Chancellor of the Exchequer, Jeremy Hunt, has warned Britain will need to “face into the storm” in the next year as it faces high energy prices, inflation, and recession. Unveiling his autumn budget, in which he raised taxes and announced £55 billion of funding cuts, Hunt told the House of Commons: “There may be…
Jeremy Hunt Says UK Must ‘Face Into the Storm’ as He Raises Taxes and Makes £55 Billion Cuts
Musical Chairs: Rishi Sunak Carries Out Cabinet Reshuffle and Sacks Truss Supporters
The UK’s third Prime Minister since July—Rishi Sunak— has carried out a Cabinet reshuffle and replaced a number of ministers who were loyal to his predecessor, Liz Truss. After an audience with King Charles III on Tuesday, Sunak, 42, took over the reins of power and immediately began reshuffling his pack of ministers. Jeremy Hunt…
Truss Resignation Likely to Stall Canada-UK Trade Deal, Experts Say
More political tumult in Britain is likely to further stall trade talks with Canada, experts say. U.K. Prime Minister Liz Truss stepped down today after a mere six weeks in office following ministers’ resignations over her controversial tax policies. The ruling Conservative Party says it will elect a new leader in a week, who will…
US Has 25 Days’ Worth of Diesel Left; Guns, Drugs Bought With Pandemic Relief Funds | NTD Business
Diesel prices remain high as inventory levels in the country reach a two-year low. What’s behind it, and will we face a diesel crisis? The green energy transition could have a dark side. It may be linked to human rights abuses like child labor. The United Kingdom’s new Prime Minister Liz Truss resigns—after only 45 days in…
LIVE NOW: U.S. Has 25 Days’ Worth of Diesel Left; Guns, Drugs Bought With Pandemic Relief Funds | NTD Business
Diesel prices remain high as inventory levels in the country reach a 2-year low. What’s behind it, and will we face a diesel crisis? The green energy transition could have a dark side. It may be linked to human rights abuses like child labor. We take a closer look. The United Kingdom’s new Prime Minister Liz Truss…
Suella Braverman Resigns as UK Home Secretary After Sending Official Document From Personal Email
Suella Braverman has resigned as home secretary, only 43 days after she was appointed by Prime Minister Liz Truss, who is facing growing calls to step down. Braverman explained the reason for her resignation in a letter she posted on Twitter and said it had been an “honest mistake”. She said: “Earlier today I sent…
Liz Truss Is Not to Blame for the UK Market Turmoil
Commentary We live in strange times. The same people that vehemently defended massive deficit spending and money printing as the solution to the global economy now blame the turmoil of the UK bond and currency markets on a deficit-increasing budget. I find it astonishing that not one of the so-called experts who have immediately placed…
Liz Truss Performs U-Turn on Corporation Tax and Promises to Lead UK ‘Through the Storm’
Prime Minister Liz Truss has scrapped a key part of the mini-budget Kwasi Kwarteng produced last month—reversing the cut to corporation tax—and has defended her decision to replace him as Chancellor of the Exchequer with Jeremy Hunt. She said she had decided to keep corporation tax at 25 percent, rather than cut it to 19 percent…
Liz Truss Sacks Kwasi Kwarteng Hours After He Arrives From US
Prime Minister Liz Truss has fired the Chancellor of the Exchequer Kwasi Kwarteng and is thought to be about to scrap large parts of the mini-budget he produced last month after the City of London reacted badly to the announcement of massive tax cuts. Kwarteng was ordered to fly home overnight from International Monetary Fund…
In Liz They Don’t Truss
Commentary Every now and then it’s helpful to take a look at what’s going on in the Mother Country (as Great Britain is sometimes called) if only for a preview of what’s probably coming here in America sooner or later. Back in 1979, for example, the election of a Conservative majority in Parliament with Margaret…
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