Ousting Under-Fire UK PM Truss Would Be ‘Disastrously Bad Idea’, Minister Says - Tasnim News Agency

British Prime Minister Liz Truss faced growing pressure on Thursday from lawmakers in her own party to rethink tax-cut plans that sent markets into turmoil, with one ally saying it would be a “disastrously bad idea” to oust her a month into the job.

Truss’s economic package, announced last month, has caused a rout in the government bond market, with some investors and Conservative Party lawmakers calling on her to reverse a plan for 43 billion pounds (S$68.8 billion) of unfunded tax cuts, including a move to hold corporation tax at just 19 percent.

The government has said it will stick to most of its tax cut plans while also protecting public spending, but economists and critics say something has to give.