Britain energy crisis mini budget: Prime Minister Liz Truss bets the lot on tax cuts and borrowing

Britain energy crisis mini budget: Prime Minister Liz Truss bets the lot on tax cuts and borrowing

Investors flee as UK bets the lot on tax cuts, massive borrowing London | Britain’s new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an economic agenda that floored financial markets, with sterling and British government bonds in freefall. Kwarteng scrapped the country’s top rate of income tax, cancelled a planned rise in corporate taxes and for the first time put a price tag on the spending plans of Prime Minister Liz …