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The Independent UK
The Independent UK
National
Rory Sullivan

Government denies responsibility for market turmoil as pound slumps

Parliament's Parliamentary Recording Unit (PRU)/AFP via Getty Images

The government has attempted to deny responsibility for Britain’s financial woes, saying that all major economies are suffering as a result of Vladimir Putin’s war in Ukraine.

Liz Truss and chancellor Kwasi Kwarteng have been widely blamed for spooking investors through their plans to cut tax for high earners and to increase state borrowing.

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