Salem Radio Network News Sunday, November 27, 2022

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‘Big impact’: UK economic chaos, pound plunge hit businesses

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( ) -q-19- UNDATED (Correspondent Jeremy House) “protect pension funds.”

British Prime Minister Liz Truss and her Treasury chief have met with the independent Office of Budget Responsibility amid efforts to ease concerns about unfunded tax cuts that have unleashed turmoil on financial markets.

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Out-cue: protect pension funds]

TAG: Correspondent Jeremy House reporting.The chairman of the House of Commons’ Treasury committee said the meeting may be an opportunity for the government to change course.

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VERBATIM: The meeting was significant because it was the government’s failure to publish the OBR’s analysis of its tax-cutting plans that worried investors. The analysis sent the pound to a record low against the dollar earlier this week. It also forced the Bank of England to intervene in the bond market to protect pension funds.

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