U.K.'s Liz Truss Drops Tax Cuts, Axes Treasury Chief Amid Turmoil

In a recent announcement, UK Prime Minister Liz Truss revealed that Finance Minister Quasi Kwarteng has resigned after only a few weeks in office. This decision follows significant pressure on Truss to reverse her controversial tax cut plans, which have disrupted global financial markets. Kwarteng was summoned back from the US for an emergency meeting where he was asked to step down. Truss held a press conference to address the situation, defending her leadership and commitment to economic growth. However, questions remain about her ability to maintain her position amid ongoing economic challenges.

What major decision did Liz Truss announce regarding the UK's financial strategy?

• Implementation of austerity measures

• Increase in public spending

• Resignation of the finance minister

• Introduction of new tax cuts

What was the primary reason for the pressure on Liz Truss to reverse her tax cut plans?

• Economic growth

• Support from opposition parties

• Global financial market disruptions

• Public protests

Who was summoned back from the United States for an emergency meeting?

• The Foreign Secretary

• The Home Secretary

• The Finance Minister

• The British Ambassador

What did Liz Truss emphasize during her press conference?

• Her plans to cut more taxes

• Her commitment to economic growth

• Her intention to call for elections

• Her resignation

What ongoing issue is Liz Truss facing despite the changes in her financial strategy?

• Support from her party

• Lack of public support

• Questions about her leadership

• Economic recession