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Britain's former Prime Minister, Liz Truss speaks at the 'Great British Growth Rally' event on day two of the annual Conservative Party conference on October 2., 2023 in Manchester, England. Carl Court | Getty Images News | Getty ImagesMANCHESTER, ENGLAND — Liz Truss, the Reaganomics enthusiast who lasted just 44 days as U.K. prime minister, staged somewhat of a comeback Monday, drawing fans from breakaway Conservative Party factions as she renewed calls for business tax cuts. A year after Truss' chaotic mini-budget of tax cuts roiled financial markets and led to her ultimate resignation, crowds gathered in their droves on the fringes of the Conservative Party Conference in Manchester to hear the ex-leader deliver her economic vision for Britain. Truss was voted into power last year by Conservative Party members, whose number is estimated around 160,000 — or 0.3% of the U.K. population. She beat out Rishi Sunak, who later replaced her as prime minister following her resignation in October 2022.
Persons: Liz Truss, Carl Court, Jeremy Hunt —, Ronald Reagan's, Donald Trump, Truss, Rishi Sunak Organizations: Conservative Party, Getty, Getty Images, Conservative Party Conference, Britain, Finance, AstraZeneca Locations: Manchester, England, Getty Images MANCHESTER, ENGLAND
Moody’s lowers UK’s outlook to negative
  + stars: | 2022-10-21 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
The affirmation of the Aa3 rating is a reflection of the UK’s economic resilience, Moody’s said in a statement. Credit ratings are essentially credit scores for governments and companies. Germany, Canada, Switzerland, Australia and the United States have some of the best credit ratings in the world, while Argentina, Nigeria, Pakistan and India have some of the lowest ratings. Soaring food costs drove the annual rate of inflation to 10.1% in September, returning it to July’s 40-year high. As well as driving up borrowing costs for the government and adding pressure to public spending, any credit ratings downgrade would only weaken investor appetite for UK assets.
Kwasi Kwarteng, UK chancellor of the exchequer, speaks at a fringe event during the Conservative Party's annual autumn conference in Birmingham, UK, on Tuesday, Oct. 4, 2022. LONDON — British Finance Minister Kwasi Kwarteng was fired on Friday after less than six weeks in the role, amid mounting political pressure and market chaos. "The economic environment has changed rapidly since we set out the Growth Plan on 23 September. The Medium-Term Fiscal Plan is crucial to this end, and I look forward to supporting you and my successor to achieve that from the backbenches." Jeremy Hunt — a former Health Secretary and Foreign Secretary — was announced as Kwarteng's successor.
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