Liz Truss, Shortest-Serving PM In UK History, Leaves Scars On Economy
NDTV
The crisis-hit PM, elected Conservative leader just six weeks ago on a tax-slashing platform, announced her resignation Thursday.
Liz Truss, the shortest-serving prime minister in UK history, leaves lasting scars on the economy after her botched budget rocked markets, spiked borrowing costs and tanked the pound.
The crisis-hit PM, elected Conservative leader just six weeks ago on a tax-slashing platform, announced her resignation Thursday.
Her budget, peppered with tax cuts and delivered last month, sought to boost growth in Britain's recession-threatened economy and freeze energy prices to ease a cost of living crisis.
However, the costly measures were fuelled by eye-watering levels of debt that damaged the government's credibility on public finances and sent bond yields and mortgage rates soaring.
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