British Prime Minister Liz Truss he looks for reassuring words to allay the uncertainty triggered by the announcement of the tax cut plan. The new UK premier said she should have done more to “lay the foundations” better to try to minimize the reaction of the market, which has seen the pound hit all-time lows and a substantial jump in the yields of gilts (UK government bonds).
Truss, who spoke on the first day of the Conservative party’s annual conference, nevertheless confirmed that she will move forward with the plan. billions of pounds of additional spending. “I understand the concerns about what happened this week,” Truss told the BBC, adding: “I support the package we announced and I support the fact that we announced it quickly because we had to act, but I accept that we should have laid the foundations better.”