The sterling pound fell to a record low against the dollar. Investors and traders were spooked as Britain’s new Chancellor of the Exchequer Kwasi Kwarteng announced the biggest package of tax cuts in 50 years last week. “We’ve only been here 19 days. I want to see, over the next year, people retain more of their income, because I believe that it’s the British people that are going to drive this economy,” Kwarteng said.
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