Liz Truss Photographer: Pool/Getty Images
Liz Truss Photographer: Pool/Getty Images

Truss prepares for humiliating reversal on UK economic plan

The pound is on course to be the best-performing major currency this week, on expectations that the government would be forced into a fiscal U-turn.
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By Kitty Donaldson and Alex Morales

(Bloomberg) — Liz Truss is preparing to reverse parts of her economic strategy later on Friday following weeks of market pressure on the UK premier to explain how she'll pay for a massive package of tax cuts.

The move was disclosed by a person familiar with the matter who asked not to be identified discussing unannounced plans. They didn't say which measures Truss will roll back. The premier's office later said she will hold a press conference on Friday, without providing any further details. 

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