Prime minister Liz Truss has abandoned one of the key planks of her “mini” Budget, ditching plans to keep the corporation tax rate down. And she has fired chancellor Kwasi Kwarteng after just 38 days on the job, after his announcement of her plan caused panic in the London stock market.
“People across this country rightly want stability,” she said, adding: “It is clear that parts of our ‘mini’ Budget went further and faster than markets were expecting.”
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