Britain's Liz Truss resigned on Thursday, saying she would remain as Prime Minister until a successor had been chosen, which she said would happen within a week. Following are latest events, comments and context:
to 10.1 percent last month, matching a 40-year high hit in July in a new blow for households grappling with a cost-of-living crisis.are bracing for a potential tax hit after a source said finance minister Jeremy Hunt was reviewing the current surcharge on bank profits.a sharp sell-off in Britain’s 2.1 trillion pound government bond market that threatened to wreak havoc in the pension industry and increase recession risks.
* The sell-off began after then-new finance minister Kwasi Kwarteng’s tax-cut announcement on Sept. 23. * After firing Kwarteng, a close friend and ally, on Friday, Truss announced that corporation tax would rise to 25% as intended by her predecessor Boris Johnson, reversing her earlier plan to freeze it at 19%. Kwarteng’s cut to the highest rate of income tax had already been reversed.of Truss and Kwarteng’s economic plan and scaled back her vast energy support scheme, announced in September, in a historic U-turn to try restore investor confidence.
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