Britain’s most radical package of tax cuts since 1972, combined with plans for large-scale borrowing, have taken financial markets by surprise and triggered a slump in the pound to a record low. The unorthodox measures are designed to kick-start economic growth. Yet the mini-budget unveiled on Sept. 23 raised fears that it could exacerbate inflation, undermine state finances and even cause a full-scale run on the currency, putting pressure on the central bank to step in.
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