Embattled British Prime Minister Liz Truss on Friday fired Treasury chief Kwasi Kwarteng, ahead of her announcement on changes to an economic package that sparked market turmoil. Photo: EPA-EFE
Embattled British Prime Minister Liz Truss on Friday fired Treasury chief Kwasi Kwarteng, ahead of her announcement on changes to an economic package that sparked market turmoil. Photo: EPA-EFE
Britain

UK PM Liz Truss sacks finance minister Kwasi Kwarteng, makes U-turn on tax cuts

  • But the prime minister’s own job may be in peril, as her economic agenda implodes within a few short weeks
  • A humbled Truss has been forced to give up on dropping an increase in profits tax on companies, after abandoning an income-tax cut for the highest earners

Embattled British Prime Minister Liz Truss on Friday fired Treasury chief Kwasi Kwarteng, ahead of her announcement on changes to an economic package that sparked market turmoil. Photo: EPA-EFE
Embattled British Prime Minister Liz Truss on Friday fired Treasury chief Kwasi Kwarteng, ahead of her announcement on changes to an economic package that sparked market turmoil. Photo: EPA-EFE
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