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U.K. Markets Rally as Investors Bet Government Will Roll Back Tax Plans
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LONDON—U.K. financial markets rallied Thursday as investors bet the government would reverse course on its recent tax-cutting plans, while the country’s Prime Minister Liz Truss grapples with a growing rebellion from both investors and lawmakers from her own Conservative Party.
U.K. government bond prices rose and the pound gained against the dollar on expectations that some or all of the government’s plans would be rolled back, according to analysts. Both markets pared gains, however, after surprisingly strong U.S. inflation data, while a rally in smaller U.K. stocks fizzled out.
Read more on wsj.comAbout this in other media
New UK chancellor Jeremy Hunt set to roll out new tax policies as he looks to calm markets fnlondon.com /2 years ago
New U.K. Chancellor to Release New Public Spending, Tax Policies wsj.com /2 years ago
Liz Truss fails to calm markets despite sacking Kwasi Kwarteng theguardian.com /2 years ago
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