After a blowback over her budget-busting tax cuts, Britain’s prime minister has junked her free-market plans and adopted several measures favored by Labour.
Tag: Budgets and Budgeting
Strikes Spread in France, Piling Pressure on Macron
Students and transit workers joined a walkout that started at oil refineries. The unrest is a growing problem for President Emmanuel Macron, whose government was already embattled in Parliament.
Under Fire, New U.K. Leader Retreats on Economic Strategy
Fighting for her political survival, Prime Minister Liz Truss fired her top ally and reversed course on tax-cutting plans, trying to shore up financial markets and her poll ratings.
Amid Turmoil, Can Truss Afford to Hold on to Tax-Cutting Plan?
Prime Minister Liz Truss and her chancellor of the Exchequer, Kwasi Kwarteng, say they are holding steady on their plans, but experts believe concessions are inevitable.
Liz Truss Stirs Uncertainty Over the U.K.’s Economic Plans
Prime Minister Liz Truss appeared to rule out cuts in public spending, as doubts about the fiscal soundness of the government’s program continued to roil the markets.
Britons Brace for More Hardship as Prices Soar Amid Inflation
Cutting back on meat. Choosing cheaper supermarket brands. Stockpiling soap. Soaring prices force more sacrifices.
California Shows Why Fossil Fuels Are So Hard to Quit
Dozens of state and local budgets depend heavily on tax revenue from oil, gas and coal to fund schools, hospitals and more. Replacing that money is turning out to be a major challenge in the fight against climate change.
Israeli Government Loses Parliament Majority, Raising Prospect of Election
Increasing tensions between Israeli authorities and Palestinians have put pressure on the government, leading to the possibility of a fifth election in three years.
In Foreign Policy U-Turn, Germany Ups Military Spending and Arms Ukraine
Germany agrees to strengthen its military in the latest foreign policy about-face amid pressure from allies and horror at Russia’s attack on Ukraine.
Top European Court Rules E.U. Can Freeze Aid to Poland and Hungary
In a landmark decision, the European Court of Justice cleared the way for the bloc to cut billions in aid on the grounds that members are eroding rule-of-law checks and balances.