New British Prime Minister Liz Truss came under growing pressure Wednesday from opponents — and inside her Conservative Party — to reverse announced tax cuts that are fueling a financial crisis in an already struggling economy.
The Bank of England stepped in to buy up government bonds in an attempt to stabilize the cost of borrowing after the government said last week that it would slash income tax and scrap a planned corporation tax hike, all while spending billions to cap soaring energy bills for homes and businesses.
