London, in the face of severe economic damage, Prime Minister Liz Truss recently announced the cancellation of all tax incentives, including the new British finance minister Jeremy Hunt announced.
Boris Johnson, who was the Prime Minister of the European country Britain, has resigned. Only the leader of the ruling conservative party can become the prime minister. According to this, former Foreign Minister Liz Truss and Indian-origin former Finance Minister Rishi Sunak competed in the election for the post of party leader.
Liz Truss was sworn in as the party leader and Prime Minister, announcing various tax benefits, etc. Following this, the interim budget of the new government was presented recently. Among them many tax benefits were announced.
But the British currency, the pound, suffered a sharp fall against the US dollar. As a result, there has been an economic depression in Britain. Stock markets fell sharply. Finance Minister Kawasi Kawarteng was recently sacked by Liz Truss for not providing sound economic advice.
Jeremy Hunt, who was the Secretary of State for Foreign Affairs, was appointed as the new Finance Minister. Hunt, who took office as the Finance Minister, met with Prime Minister Liz Truss and the Governor of the Central Bank for the past few days.
In this case, he issued a new announcement yesterday. In it, he mentioned that all the tax incentives announced in the Interim Budget will be withdrawn.
He also mentioned that when the country’s new budget is presented on the 30th, there will be announcements related to improving the economy.
In this case, there is a voice of protest against Prime Minister Liz Truss in her party. Some of his party MPs have alleged that his bad policies have affected the country’s economy.
Meanwhile, efforts are underway to make Rishi Sunak the Prime Minister.
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