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Liz Truss is in big trouble after her biggest U-turn yet

Liz Truss has sacrificed her finance minister and closest political ally just weeks into her premiership in order to save her own skin.

The move came three weeks after Britain’s Chancellor of the Exchequer Kwarteng announced a controversial mini-budget full of unfunded tax-cutting measures that sent financial markets into meltdown. At one point, the pound sank to its lowest level against the dollar in decades.

Markets have settled somewhat since, though only after major intervention from the Bank of England, leaked rumors that the mini-budget would be abandoned and reports that Kwarteng would be sacked.

Kwarteng being gone, however, does not mean that Truss is out of the woods. The low-tax, free-market policies that Kwarteng announced were the exact ticket on which Truss ran to be prime minister.

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