Liz Truss Said She Went Too Far Too Fast On Economic Reforms

Liz Truss choose to apologize for going “too far too fast” on reforms that triggered economic turmoil for Britain and led to over 100 Tory MPs expressing no confidence in the Truss government. But her apologies failed to calm the dissatisfaction.

HIGHLIGHTS

• Liz Truss withdrew the tax cuts unveiled last month
• Jeremy Hunt is made the new finance chief replacing Kwasi Kwarteng
• The opposition Labor Party held the ruling Tory Party for the chaos

What Did Liz Truss Say In Her Defense?

An embattled Truss appeared defensive while offering her apologies for the quick economic decisions her government took to contain the economic situation of the country.

She told the BBC that she wanted to accept responsibility and say sorry for the mistakes that had been made. She accepted that her government went too far and too fast on the economic reforms. She further maintained that she was committed to delivering for the country.

What Were Those Economic Reforms?

Liz Truss Said Economic Reforms

Jeremy Hunt was brought in to undo the economic reforms started by sacked finance chief Kwasi Kwarteng. And Hunt scrapped the plans to reduce the lowest income tax. He even curbed the government’s flagship energy price freeze till April after which the government will review the energy support package. Hunt also met the governor of the Bank of England, Andrew Bailey, and the head of the Debt Management Office for talks over tax reforms.

What Do Experts Call The New Economic Reforms?

The tax-slashing platform on which Liz Truss was elected Tory leader on Monday is called Trussonomics by analysts. Laura Suter, head of personal finance at stockbroker AJ Bell, said that Monday’s … Read the rest

Why Should Every Indian Be Proud Of The 2021 Indiaspora Government Leaders List?

The 2021 Indiaspora Government Leaders List released on Monday made Indians proud by highlighting the Indian community members are playing in the development of world polity and economy.

What is 2021 Indiaspora Government Leaders List?

Released by a US based organization working among Indian expatriate, it is the first of its kind-list highlighting the bigger role of Indians. The list draws its inspiration and information from publicly available resources including government websites.

MR Rangaswami, one of the founders of the organization and a Silicon Valley-based entrepreneur and investor, said that they were proud of a person of Indian origin becoming the Vice President of the world’s oldest democracy and that they wanted to make use of the President’s Day to highlight others in the diaspora that are also doing a remarkable job in public service.

Highlights of the list

• 200 people of Indian origin occupy leadership positions in 15 countries including the US and UK
• 60 people of Indiaspora occupy cabinet ranks
• The Indiaspora leaders collectively represent more than 587 million constituents
• The countries they head account for USD 28 trillion GDP

Who are Indiaspora included in the list?

The list includes people from the countries with a rich history of Indian expatriates migration like US, UK, UAE, South Africa, Canada, Singapore and Australia. These people belong to the highest echelons of public service like legislators, diplomats, heads of central banks and senior civil servants.

With over 32 million people of Indian origin (PIO) globally, Indians make the largest expatriate population in the world. And now they have reached the highest offices in different states.

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