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World

UK’s Kwarteng abandons US trip as pressure over economy mounts

Liz Truss Kwasi Kwarteng United Kingdom Greg Hands Mel Stride

Allies say the chancellor is determined to deliver on his growth plan [File: Hannah McKay/Reuters]

Embattled British Prime Minister Liz Truss has scheduled a hastily arranged news conference after Chancellor Kwasi Kwarteng cut short his trip to Washington to return early to London, where pressure is mounting on the new government to scrap an economic policy that unleashed turmoil on financial markets.

Truss’ office did not disclose the subject of the news conference on Friday. Several British news outlets reported that Kwarteng was set to leave his post, while Downing Street refused to comment on “speculation”.

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