Pound strengthens and ties rally after Jeremy Hunt gives Liz Truss Budget an ax
The pound strengthened and interest on public debt fell as markets reacted positively to the dismantling of the September financial plan by the new Chancellor.
Jeremy Hunt, the former health and foreign secretary, took an ax on Monday to the statement made by his predecessor Kwasi Kwarteng only a few weeks ago.
Mr. Hunt scrapped virtually every measure outlined in Ms Truss' economic plan, including a 1p cut in the basic income tax rate, currently at 20p.
The pound strengthened and interest on public debt fell as markets reacted positively to the dismantling of the September financial plan by the new Chancellor.
Jeremy Hunt, the former health and foreign secretary, took an ax on Monday to the statement made by his predecessor Kwasi Kwarteng only a few weeks ago.
Mr. Hunt scrapped virtually every measure outlined in Ms Truss' economic plan, including a 1p cut in the basic income tax rate, currently at 20p.
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