U.K.’s Sweeping Tax Cuts Send Pound Tumbling, Yields Higher

LONDON – The UK government announced the biggest tax cuts since the early 1970s in a bold gamble to boost the UK’s inflation-plagued economy to growth, causing the pound to fall and government bond yields to rise.

In one of the biggest shifts in British economic policy in decades, Britain became Chancellor of the Exchequer Kwasi Kwarteng said the government will cut payroll taxes, freeze corporate taxes, remove a cap on bankers’ bonuses and spend billions to subsidize energy bills over the next two years.

https://www.wsj.com/articles/u-k-announces-package-of-sweeping-tax-cuts-11663926079 U.K.’s Sweeping Tax Cuts Send Pound Tumbling, Yields Higher

Alley Einstein

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