THE Bank of England has been forced to intervene in an attempt to avoid a full-blown financial crisis after Liz Truss’s government announced swingeing tax cuts for the rich.
It comes after the collapse of the pound following Chancellor Kwasi Kwarteng’s “mini-budget” announcement last Friday.
The central bank said that if the current “dysfunction in this market [were] to continue or worsen, there would be a material risk to UK financial stability”.
