Truss Rules Out U-Turn as Her Unfunded Tax Cuts Roil Markets
- New prime minister blames global economic pressure for turmoil
- Truss addresses fallout from fiscal package for the first time
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UK Prime Minister Liz Truss showed no sign of backing down on her economic policies that yesterday forced a dramatic £65 billion intervention from the Bank of England, blaming Russia’s war in Ukraine for the market turmoil that pushed the pound to a record low.