The UK government has rolled out tax cuts to kickstart the economy. The International Monetary Fund warned that the plan could trigger a spike in inflation.
The British prime minister is making a big bet on a fiscal policy that includes Britain’s biggest tax cut in half a century – financed by borrowing.
Liz Truss said the plan would kickstart the economy. But her critics said it was a reckless gamble. And those plans appear to have backfired. Sterling fell to a record low and financial markets were in turmoil.
In a rare public criticism of the leading global economy, the International Monetary Fund has warned that the plan could increase inequality in Britain.
Elsewhere, Bollywood and Nollywood films struggled to stay in the spotlight.