British Prime Minister Liz Truss has been forced into a humiliating U-turn, reversing most of the economic policies that secured her elevation to Downing Street just over six weeks ago.
Liz Truss vowed to stick with her plan to reshape Britain’s economy through tax cuts and deregulation in a bid to end years of sluggish growth.
The Prime Minister says her government has to take urgent and decisive action, including "difficult decisions", to get the British economy moving.
Taxation is already a key dividing line in the race, as Britain faces the toxic combination of high inflation and rampant cost-of-living increases alongside stagnant growth and relatively high tax rates.
Finance Minister Rishi Sunak announced the budget to tackle unemployment as a result of the coronavirus pandemic.
The idea of a second referendum would once again be put to parliament at some point, Finance Minister Phillip Hammond says despite the government's opposition to any new public vote.
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