By Elizabeth Piper, Andrew MacAskill and Alistair Smout BIRMINGHAM, England (Reuters) – British Prime Minister Liz Truss had hoped her governing Conservative Party’s annual conference would be her crowning glory, but instead she was forced into a humiliating U-turn that has left her, and her team, fighting for credibility. After less than a month in …
Britain’s weakened Truss faces fight for credibility Read More »
By Huw Jones LONDON (Reuters) – Britain’s new Prime Minister Liz Truss promised to “unshackle” the City of London to fuel growth, but crashing the bond market over tax cuts will take the shine off her “Big Bang” plan for financial services. Markets took fright last month when UK finance minister Kwasi Kwarteng unveiled plans …
Analysis-UK bond market crash takes shine off Big Bang plans for London Read More »
LONDON (Reuters) – British finance minister Kwasi Kwarteng on Monday abruptly dropped his plan to eliminate the top rate of income tax, part of his Sept. 23 “mini budget” that triggered a rout of sterling and government bonds in financial markets. Following are some key points about the 45% tax rate. WHEN WAS IT INTRODUCED? …
Factbox-The UK’s top tax rate – what is it and why does it matter? Read More »
By Elizabeth Piper, Andrew MacAskill and Alistair Smout BIRMINGHAM, England (Reuters) -British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn after less than a month in power, reversing a cut to the highest rate of income tax that helped spark turmoil in financial markets and a rebellion in her party. Finance …
UK’s Truss forced into tax U-turn after market turmoil, party rebellion Read More »
LONDON (Reuters) -British Finance Minister Kwasi Kwarteng is to bring forward publication of his medium-term fiscal plan to bring down public debt to later this month, the Financial Times and a government source said on Monday. Earlier, Kwarteng said he was dropping his plan to scrap the top rate of income tax, which had caused …
UK’s Kwarteng to bring forward publication of his fiscal plan Read More »
(Reuters) -London’s Heathrow airport has told airlines it will lift a cap on passenger numbers at its terminals later this month, the Wall Street Journal reported on Monday, citing people familiar with the decision. The airport capped the number of passenger departures at 100,000 a day in July and in August extended the cap until …
London’s Heathrow to lift daily passenger cap in late October -WSJ Read More »
LONDON (Reuters) -The Bank of England issued a statement on Monday in which it said it was reaffirming its willingness to buy up to 5 billion pounds ($5.65 billion) of long-dated gilts at each of its daily auctions, after rejecting almost all offers earlier in the day. On Sept. 28, the BoE launched a programme …
Bank of England reaffirms willingness to buy billions of pounds in gilts Read More »
(Reuters) – A 36-year-old runner who took part in the London Marathon on Sunday has died after he collapsed during the race, organisers said on Monday. The runner from Southeast England, who was not named by organisers, collapsed after the 23-mile mark. “Although he received immediate medical treatment and an ambulance was on the scene …
Athletics-London Marathon runner dies after collapsing during race Read More »
BIRMINGHAM, England (Reuters) – British finance minister Kwasi Kwarteng said on Monday he would publish details “shortly” on how he planned to bring down public debt as a share of economic output over the medium term, addressing concerns among investors over the cost of his recently announced tax cuts. “Today we face new challenges and …
UK’s Kwarteng says he will publish new fiscal plans “shortly” Read More »
LONDON (Reuters) – Authorities in Birmingham have restricted access to and from a convention centre hosting the annual conference of Britain’s governing Conservative Party due to a potential security alert, local police said on Monday. (Reporting by Sachin Ravikumar; editing by William James)
