Biden calls abandoned UK tax cut plan a ‘mistake’

Posted on AllSides October 16th, 2022
From The Center
Greg Nash

President Biden on Saturday criticized a tax cut plan that British Prime Minister Liz Truss has now largely backed away from as a “mistake.”

“Well, it’s predictable.  I mean, I wasn’t the only one that thought it was a mistake,” Biden said during a trip to Portland, Ore.

Truss announced plans last month to cut taxes by the equivalent of roughly $50 billion without detailing how it would be paid for, spooking investors. 

The plan sent the price of gilts, which are British government bonds, tumbling, as the pound plunged...

Read full story

The Hill

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
111498/86495
See full bias rating for The Hill
Learn about media bias
https://thehill.com/homenews/administration/3690529-biden-calls-abandoned-uk-tax-cut-plan-a-mistake/

More News about Joe Biden from the Left, Center and Right

From the Left

From the Center

From the Right