Home / Centerstage / 2022 / september / Week 4 /
In a bid to restore stability to the UK economy, the Bank of England initiates a purchase of £65 billion worth of bonds. However, the economic chaos unleashed by Prime Minister Liz Truss's proposed £45 billion tax-cut plan, particularly benefiting high earners, continues to reverberate. The pound's decline and the ensuing financial market shockwaves cast uncertainty over Truss's political future, merely three weeks into her tenure. The International Monetary Fund criticizes the plan, urging a reevaluation to avoid exacerbating inflation and economic inequality.
Tuesday, 27 September, 2022