U.K. Leader In Peril After Treasury Chief Axes 'Trussonomics'

Jeremy Hunt, the new Treasury chief, has reversed most of the tax cuts announced by Prime Minister Liz Truss, which were to be funded by borrowing. This decision was made to address global market concerns and reassure the strength of the UK's economy. The previous Treasury chief was dismissed due to the negative reaction to the tax cuts.

What action did Jeremy Hunt take regarding the tax cuts announced by Liz Truss?

• He reversed most of the tax cuts.

• He postponed the tax cuts.

• He implemented additional tax cuts.

• He increased borrowing to fund the cuts.

What was the primary concern about the planned tax cuts?

• They would decrease government revenue.

• They would increase inflation.

• They would lead to higher interest rates.

• They relied on borrowing, causing global market concerns.

What was the UK Government's response to the market concerns?

• They increased interest rates.

• They ignored the concerns.

• They introduced new economic policies.

• They attempted to calm the worries, but it did not work.

Why did Jeremy Hunt take over as Treasury chief?

• The previous chief resigned voluntarily.

• The previous chief retired.

• The previous chief was promoted.

• The previous chief was fired due to the reaction to the tax cuts.

What was Jeremy Hunt's goal as the new Treasury chief?

• To negotiate trade deals.

• To increase government spending.

• To reassure the world about Britain's economic strength.

• To introduce new tax cuts.