UK Prime Minister Liz Truss has announced another U-turn in her government’s tax-cut plan in an effort to reassure financial markets.

The British Prime Minister argued that she will reverse her plan to scrap an increase in corporation tax and admitted the government’s mini-budget had gone faster and further than many expected.

It comes after the PM sacked her chancellor, Kwasi Kwarteng, and replaced him with former health and foreign secretary Jeremy Hunt.

Kwarteng lost his job just three weeks after he announced unfunded tax cuts that triggered financial turmoil.

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Readers Bureau, Contributor

Edited by Jesus Chan

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