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Liz Truss and Kwasi Kwarteng
Liz Truss and Kwasi Kwarteng have been making headlines this week
(Image credit: Dylan Martinez/WPA Pool/Getty Images)

Prime Minister Liz Truss and her chancellor Kwasi Kwarteng are refusing calls for a U-turn after their radical tax-cutting “mini-budget” plunged the markets into turmoil this week.

The government’s controversial fiscal strategy, which included plans to implement some £45bn worth of tax cuts, prompted the pound to fall to an all-time low against the dollar and raised the prospect of further interest rate hikes from the Bank of England (BoE) to deal with spiralling inflation.

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