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France 24
France 24
Politics
NEWS WIRES

UK PM Truss U-turns on mini budget, raises corporation tax and names Hunt finance minister

Liz Truss Kwasi Kwarteng United Kingdom Conservative Party ​​Rishi Sunak Bank of England Britain
UK's Prime Minister Liz Truss attends a press conference in the Downing Street Briefing Room in central London, Friday, October 14, 2022, following the sacking of the finance minister in response to a budget that sparked markets chaos. © Daniel Leal, AP

Embattled UK Prime Minister Liz Truss has appointed Jeremy Hunt to replace Kwasi Kwarteng as Finance Minister on Friday, while also ditching the cut in corporation tax in a major U-turn to her mini-budget announced just last month triggering major market turmoil.

Hunt returns to the cabinet after previously serving as foreign secretary under ex-PM Theresa May and health secretary and culture secretary under former PM David Cameron.

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