A tax policy by the new administration in Britain sent the price of the pound plummeting and the global economy spiraling. Today on “Post Reports,” we explain why it caused such turmoil, and what else to expect from Prime Minister Liz Truss.
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Prime Minister Liz Truss has been in office for only about a month, but already her proposals have weakened the struggling British economy and worsened her party’s support. Most notably, her administration proposed removing income tax for the most wealthy earners in Britain— a move that she quickly reversed after it was met with anger from the public and politicians alike. London correspondent Karla Adam explains Truss’s political ideologies and how these decisions could lead to a political power shake-up in the U.K.