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Truss Prepares to Abandon Key Tax Cuts Amid Market Turmoil

  • Gilts, pound surge as investors prepare for government u-turn
  • Corporation tax change seen as most likely measure to be axed
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UK Considering a U-Turn on Truss’s Tax-Cut Plan
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UK Prime Minister Liz Truss’s administration is preparing to abandon a central part of its tax-cutting agenda following weeks of chaos in financial markets -- a potential shift that sent the pound and gilts surging.