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UK's Birmingham To Approve Service Cuts, Tax Hikes To Avoid Bankruptcy
Councillors in the UK's second-largest city Birmingham were poised Tuesday to approve tax hikes and deep cuts to public services that could include axed arts funding and reduced rubbish collection, as the city fights to avoid bankruptcy.
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Rishi Sunak Under Pressure Over Taxes Ahead Of 1st Tory Conference As PM
Rishi Sunak will be leading his first Conservative Party conference as British Prime Minister this weekend and goes into the annual event starting on Sunday amid pressure from his backbenches over cutting taxes.
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UK's Ex-Finance Minister Told Liz Truss To "Slow Down" Tax Cuts
Britain's former finance minister in Liz Truss's short-lived government said in an interview Thursday he had warned the ex-premier to "slow down" her tax cuts that triggered economic turmoil, leading to her downfall.
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Markets Positive About Rishi Sunak As He Inherits A UK Economy In Crisis
Ms Truss's policy U-turns, most significantly scaling back a cap on rising energy prices and a big boost in borrowing to pay for massive unfunded tax cuts, crashed the pound, which is now hovering close to the dollar in value.
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Liz Truss's Exit Ends Revival Of Margaret Thatcher's Libertarian Economics
Daniel Pryor, who lobbies for governments to shrink the state and cut taxes, feels Liz Truss's brief, disastrous spell as prime minister has killed off his dream of a low-tax, deregulated British economy for at least a generation.
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Liz Truss Resigns As UK Prime Minister After Tax-Cut Plan Backfires
Liz Truss resigned as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout.
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"Sorry For Mistakes...Went Too Far, Too Fast": Liz Truss On Tax Cut Fiasco
Embattled UK Prime Minister Liz Truss on Monday apologised for "going too far too fast" with reforms that triggered economic turmoil, but vowed to remain leader despite a series of humiliating climbdowns.
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Resign Or Be Pushed? Scenarios Facing UK's Embattled PM Liz Truss
Calls are growing for Britain's beleaguered Prime Minister Liz Truss to resign or be replaced, after weeks of economic and political tumult over her now largely abandoned tax-slashing economic package.
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UK To Reverse "Almost All" Tax Cuts, Retain Energy Support
New British finance minister Jeremy Hunt on Monday reversed nearly all of Prime Minister Liz Truss's mini-budget that had sparked market turmoil, and reined in a vast energy subsidy plan, saying the country needed to rebuild investor confidence.
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Liz Truss' Big Move After Firing Finance Minister Over UK Tax Cut Fiasco
Embattled British Prime Minister Liz Truss on Friday announced another drastic U-turn to her tax-slashing mini-budget last month which has prompted market turmoil, vowing to raise corporation tax after all.
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UK Finance Minister Sacked By PM Liz Truss After Tax Cut Fiasco
UK finance minister Kwasi Kwarteng has been sacked, the BBC and Sky News reported on Friday quoting unnamed sources, as Prime Minister Liz Truss tries to save her beleaguered premiership.
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Liz Truss Faces Fight For Credibility In Wake Of UK Tax Policy U-Turn
British Prime Minister Liz Truss had hoped her governing Conservative Party's annual conference would be her crowning glory, but instead she was forced into a humiliating U-turn that has left her, and her team, fighting for credibility.
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Sensex Rallies Over 1,000 Points After UK's Policy U-Turn On Tax Cuts
Stock Market India: Equity benchmarks recovered on Tuesday from deep losses in the previous session, tracking improving global market sentiment.
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Pound Jumps On UK Tax Cut Reversal, Oil Swings Higher
Oil jumped on Monday as OPEC+ considered reducing output at its meeting later this week while the pound swung higher after the UK government said it would reverse a controversial tax cut that had roiled British markets.
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UK Drops Tax Cut For Top Earners Amid Row, Liz Truss's 1st Policy U-turn
Britain on Monday scrapped plans to axe its top income tax rate just 10 days after a debt-driven budget sparked turmoil on markets and fierce criticism during a cost-of-living crisis.
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UK's Birmingham To Approve Service Cuts, Tax Hikes To Avoid Bankruptcy
Councillors in the UK's second-largest city Birmingham were poised Tuesday to approve tax hikes and deep cuts to public services that could include axed arts funding and reduced rubbish collection, as the city fights to avoid bankruptcy.
-
Rishi Sunak Under Pressure Over Taxes Ahead Of 1st Tory Conference As PM
Rishi Sunak will be leading his first Conservative Party conference as British Prime Minister this weekend and goes into the annual event starting on Sunday amid pressure from his backbenches over cutting taxes.
-
UK's Ex-Finance Minister Told Liz Truss To "Slow Down" Tax Cuts
Britain's former finance minister in Liz Truss's short-lived government said in an interview Thursday he had warned the ex-premier to "slow down" her tax cuts that triggered economic turmoil, leading to her downfall.
-
Markets Positive About Rishi Sunak As He Inherits A UK Economy In Crisis
Ms Truss's policy U-turns, most significantly scaling back a cap on rising energy prices and a big boost in borrowing to pay for massive unfunded tax cuts, crashed the pound, which is now hovering close to the dollar in value.
-
Liz Truss's Exit Ends Revival Of Margaret Thatcher's Libertarian Economics
Daniel Pryor, who lobbies for governments to shrink the state and cut taxes, feels Liz Truss's brief, disastrous spell as prime minister has killed off his dream of a low-tax, deregulated British economy for at least a generation.
-
Liz Truss Resigns As UK Prime Minister After Tax-Cut Plan Backfires
Liz Truss resigned as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout.
-
"Sorry For Mistakes...Went Too Far, Too Fast": Liz Truss On Tax Cut Fiasco
Embattled UK Prime Minister Liz Truss on Monday apologised for "going too far too fast" with reforms that triggered economic turmoil, but vowed to remain leader despite a series of humiliating climbdowns.
-
Resign Or Be Pushed? Scenarios Facing UK's Embattled PM Liz Truss
Calls are growing for Britain's beleaguered Prime Minister Liz Truss to resign or be replaced, after weeks of economic and political tumult over her now largely abandoned tax-slashing economic package.
-
UK To Reverse "Almost All" Tax Cuts, Retain Energy Support
New British finance minister Jeremy Hunt on Monday reversed nearly all of Prime Minister Liz Truss's mini-budget that had sparked market turmoil, and reined in a vast energy subsidy plan, saying the country needed to rebuild investor confidence.
-
Liz Truss' Big Move After Firing Finance Minister Over UK Tax Cut Fiasco
Embattled British Prime Minister Liz Truss on Friday announced another drastic U-turn to her tax-slashing mini-budget last month which has prompted market turmoil, vowing to raise corporation tax after all.
-
UK Finance Minister Sacked By PM Liz Truss After Tax Cut Fiasco
UK finance minister Kwasi Kwarteng has been sacked, the BBC and Sky News reported on Friday quoting unnamed sources, as Prime Minister Liz Truss tries to save her beleaguered premiership.
-
Liz Truss Faces Fight For Credibility In Wake Of UK Tax Policy U-Turn
British Prime Minister Liz Truss had hoped her governing Conservative Party's annual conference would be her crowning glory, but instead she was forced into a humiliating U-turn that has left her, and her team, fighting for credibility.
-
Sensex Rallies Over 1,000 Points After UK's Policy U-Turn On Tax Cuts
Stock Market India: Equity benchmarks recovered on Tuesday from deep losses in the previous session, tracking improving global market sentiment.
-
Pound Jumps On UK Tax Cut Reversal, Oil Swings Higher
Oil jumped on Monday as OPEC+ considered reducing output at its meeting later this week while the pound swung higher after the UK government said it would reverse a controversial tax cut that had roiled British markets.
-
UK Drops Tax Cut For Top Earners Amid Row, Liz Truss's 1st Policy U-turn
Britain on Monday scrapped plans to axe its top income tax rate just 10 days after a debt-driven budget sparked turmoil on markets and fierce criticism during a cost-of-living crisis.
