Liz Truss' Big Move After Firing Finance Minister Over UK Tax Cut Fiasco

Embattled British Prime Minister Liz Truss on Friday announced another drastic U-turn to her tax-slashing mini-budget last month which has prompted market turmoil, vowing to raise corporation tax after all. Hours after sacking her finance minister, and stating the "need to act now to reassure the markets", Truss said: "I have therefore decided to keep the increase in corporation tax that was planned by the previous government".

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