British pound falls to historic low following tax cut announcement | DW News

British pound falls to historic low following tax cut announcement | dw news

DW News published this video item, entitled “British pound falls to historic low following tax cut announcement | DW News” – below is their description.

Prime Minister Liz Truss’s new government was off to a rough start after the British pound fell to an all-time low against the US dollar on Monday.

The currency plummeted following the announcement of a “minibudget” by the new Chancellor of the Exchequer Kwasi Kwarteng, which included a promise of sweeping tax cuts.

The pound reached as low as $1.0373 on Monday morning before rallying back to $1.07. The drop equates to a loss of more than 5% of the pound’s value against the dollar since Friday.

DW News YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


About This Source - DW News

DW News is a global English-language news and information channel from German public international broadcaster Deutsche Welle, established in summer 2015.

Recent from DW News:

Iran said to abolish morality police: What does it mean? | DW News

Russian defense minister meets with Lukashenko in Belarus| DW News

Could injectible PrEP be a game changer in the fight against HIV? | DW News

In This Story: Liz Truss

Mary Elizabeth Truss is a British politician serving as Secretary of State for Foreign, Commonwealth and Development Affairs since 2021 and Minister for Women and Equalities since 2019. A member of the Conservative Party, she has been Member of Parliament for South West Norfolk since 2010.

5 Recent Items: Liz Truss

How significant is Labour’s Chester by-election win?

Kemi Badenoch laughs after Tory MP says Liz Truss made ‘very, very bad decisions’

‘Wishful thinking will not suffice’: Rishi Sunak outlines British Foreign Policy in Banquet Speech

Row erupts as Labour MP told to ‘sit down’ by Tories amid discussion of Commons conduct

Is England set to reverse the ban on building onshore wind farms? – BBC Newsnight

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.