Get access to our best features

British pound plunges to new low as tax cuts spark concern

Summary by Ground News
The pound falls to its lowest level since the decimalization of the currency in 1971. The weakening currency piles pressure on the U.K.'s new Conservative government. Many economists say it's more likely to fuel already high inflation, push down the pound. The Bank of England said it is monitoring the drop in the pound and would not hesitate to boost interest rates.
2 months ago·London, Canada

News Articles

More Filters
All
Left
Center
Right

British pound plunges to new low as tax cuts spark concern

The weakening currency piles pressure on the U.K.'s new Conservative government, which has gambled that slashing taxes - and increasing borrowing to compensate - will spur economic growth. Many economists say it's more likely to fuel already high inflation, push down the pound and drive up the cost of U.K. government borrowing - a potential perfect storm of economic headwinds.

2 months ago·Mumbai, India
Read Full Article

British pound plunges to new low as tax cuts spark concern

LONDON >> The British pound fell to an all-time low against the U.S. dollar early today after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.

2 months ago·Honolulu, United States
Read Full Article

British pound plunges to new low as tax cuts spark concern

The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373, its lowest level since the decimalization of the currency in 1971, before rallying to above $1.06 in London late afternoon trading. The weakening currency piles…

2 months ago·Jacksonville, United States
Read Full Article

British pound plunges to new low as tax cuts spark concern

By DANICA KIRKA and JILL LAWLESSLONDON (AP) — The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373, its lowest level since the decimalization of the currency in 1971, before rallying to above $1.06 in London late a…

2 months ago·Boston, United States
Read Full Article

British pound plunges to new low

LONDON — The British pound fell to an all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373,...

2 months ago·Northampton, United States
Read Full Article

British pound plunges to new low as tax cuts spark concern

By DANICA KIRKA and JILL LAWLESSLONDON (AP) — The British pound fell to all-time low against the U.S. dollar early Monday after Treasury chief Kwasi Kwarteng pledged a sweeping package of tax cuts, fueling concerns about the government’s economic policy as the United Kingdom teeters toward recession.The pound fell as low as $1.0373, its lowest level since the decimalization of the currency in 1971, before rallying to above $1.06 in London late a…

2 months ago·Lowell, United States
Read Full Article
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

44% of the sources lean Left
Star Advertiser
Daily Hampshire Gazette
SooToday.com
BarrieToday.com
News 4 JAX
castanet.net
Times of India
Boston Herald
The National Herald
L 44%
C 23%
R 33%
See less detail