3 chapters across the catalog
Liz Truss resigned as Prime Minister of Britain after a tumultuous six-week tenure, marking a record for the shortest term in UK history. Audio from her final Prime Minister's Questions (PMQs) features Keir Starmer and other MPs criticizing her economic policies and the "mini-budget" that impacted mortgage rates. Speculation suggests her appointment may have served as a cover for Bank of England maneuvers before her inevitable exit.
British Prime Minister Liz Truss fired Finance Minister Kwasi Kwarteng after only 38 days in office following the disastrous market reaction to his "mini-budget." The proposed tax cuts caused the British pound to plunge and forced the Bank of England to intervene. Kwarteng's replacement, Jeremy Hunt, is expected to reverse many of the previous administration's fiscal policies to stabilize the economy.
The British pound dropped to an all-time low against the US dollar following Chancellor Kwasi Kwarteng's announcement of the largest tax cuts in 50 years. The fiscal policy sparked volatility in global financial markets, contributing to a bear market in the US as the Dow Jones Industrial Average fell 20% from its January high.
