https://sputnikglobe.com/20221017/biden-does-not-regret-calling-truss-tax-cut-plan-mistake-1101967181.html
Biden Does Not Regret Calling Truss' Tax Cut Plan 'Mistake'
Biden Does Not Regret Calling Truss' Tax Cut Plan 'Mistake'
Sputnik International
WASHINGTON (Sputnik) - US President Joe Biden does not regret referring to a tax-cut policy proposed by UK Prime Minister Liz Truss as a "mistake" over the... 17.10.2022, Sputnik International
2022-10-17T18:53+0000
2022-10-17T18:53+0000
2023-05-28T15:21+0000
americas
us
joe biden
liz truss
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united kingdom (uk)
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Biden told reporters on Saturday that he disagreed with Truss’s policy and considered it a mistake, but that it is up to the United Kingdom to make their own economic judgements."No," Jean-Pierre said during a press briefing, when asked if Biden has any regrets about calling the proposed tax cuts a mistake.Last week, Truss promised to reduce public debt amid a flurry of criticism over the government's new plan to support the economy, which includes large-scale tax cuts. After the plan's announcement, the yield on five-year UK government bonds rose to its highest level since 2008, at 4.6%, which meant a decrease in demand for debt securities. Consequently, sterling fell to an all-time low of $1.054 per pound.On Friday, Kwasi Kwarteng resigned as the UK’s Chancellor of the Exchequer after reports leaked that he had been fired by Truss over a controversial tax-cut plan for big corporations, which triggered a negative reaction from both markets and the general public.New UK Chancellor of the Exchequer Jeremy Hunt on Monday canceled almost all measures of Kwarteng’s plan.
https://sputnikglobe.com/20221016/biden-calls-trusss-tax-cut-plans-mistake-1101890492.html
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Biden Does Not Regret Calling Truss' Tax Cut Plan 'Mistake'
18:53 GMT 17.10.2022 (Updated: 15:21 GMT 28.05.2023) WASHINGTON (Sputnik) - US President Joe Biden does not regret referring to a tax-cut policy proposed by UK Prime Minister Liz Truss as a "mistake" over the weekend, White House Press Secretary Karine Jean-Pierre said on Monday.
Biden told reporters on Saturday that he disagreed with Truss’s policy and
considered it a mistake, but that it is up to the United Kingdom to make their own economic judgements.
"No," Jean-Pierre said during a press briefing, when asked if Biden has any regrets about calling the proposed tax cuts a mistake.
Last week, Truss promised to reduce public debt amid a flurry of criticism over the government's new plan to support the economy, which includes large-scale tax cuts. After the plan's announcement, the yield on five-year UK government bonds rose to its highest level since 2008, at 4.6%, which meant a decrease in demand for debt securities. Consequently, sterling fell to an all-time low of $1.054 per pound.
16 October 2022, 05:04 GMT
On Friday, Kwasi Kwarteng resigned as the UK’s Chancellor of the Exchequer after reports leaked that he had been fired by Truss over a controversial tax-cut plan for big corporations, which triggered a negative reaction from both markets and the general public.
New UK Chancellor of the Exchequer Jeremy Hunt on Monday canceled almost all measures of Kwarteng’s plan.
