On Monday, new UK Finance Minister Jeremy Hunt scrapped Prime Minister Liz Truss’s economic plan and scaled back her vast energy subsidy. He launched one of the biggest U-turns in British fiscal policy to stem a dramatic loss of investor confidence. “I remain extremely confident about the UK’s long-term economic prospects as we deliver our mission to go for growth,” Hunt said in a televised clip. “But growth requires confidence and stability, and the United Kingdom will always pay its way,” he added.
