British PM Liz Truss axes finance minister, tax cuts that sent pound crashing
LONDON — Embattled British Prime Minister Liz Truss axed her finance minister and a flagship policy Friday, in a bid to save her job after weeks of market panic stoked by her economic plan . Truss announced at a news conference that she would scrap a planned tax cut, the latest reversal in the face of mounting political and economic pressure. She added that she was "absolutely determined" to carry on, saying she had changed course "to reassure markets of our fiscal discipline.” She was also seeking to reassure her ruling Conservative Party, whose polling numbers have plummeted alongside the value of the pound — fueling speculation that she could be ousted just weeks after taking office. Chancellor of the Exchequer Kwasi Kwarteng and British Prime Minister Liz Truss attend the annual Conservative Party conference on Oct. 2, 2022 in Birmingham, England. Leon Neal / Getty Images Truss said she stood by her radical low-tax strategy and remained "ambitious for growth....