Labour has accused Liz Truss’s government of acting like “gamblers in a casino” over the UK economy after the pound dropped to its lowest level against the dollar since decimalisation, following Friday’s unofficial budget.
With ministers still refusing to comment on the plunge in sterling after the announcement of £45bn of largely unfunded tax cuts by Kwasi Kwarteng, Truss’s chancellor, the pound fell to as low as $1.0327 on Monday, the lowest since Britain went decimal in 1971.
