Taxes

Investors send U.K. pound careening to 37-year low as government plan to avert recession backfires

6 days ago   |   By Fortune

The new Conservative government under Prime Minister Liz Truss will borrow £45 billion to fund the biggest tax cut in 50 years-and the wealthiest will profit the most.
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U.K. Chancellor Announces New Stimulus in Mini-Budget

6 days ago   |   By Economy

The government aims to ease inflation with the measures.
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The UK pound slides to 37-year low against the dollar as the new British government's mini-budget spurs worries about further inflationary pressures

6 days ago   |   By Business Insider

A UK 10 pound note featuring Queen Elizabeth II's image lies alongside a US dollar bill. Photo Illustration by Matt Cardy/Getty Images
The UK pound hits a fresh 37-year low against the US dollar on Friday.
Pound sterling fell below $1.09 as the UK's new government outlined tax cuts and other moves to bolster economic growth.
The British economy is dealing with consumer price inflation hovering around 10%.
The UK pound sharply dropped to a nearly four-decade low against the US dollar on Friday on fears the government's plan to bolster economic growth will fan inflation flames. The pound...
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