Economic storm tests UK’s new leader, alarms Conservatives

By JILL LAWLESS
Associated Press

LONDON (AP) — Britain’s new Prime Minister Liz Truss is under pressure to reverse announced tax cuts that have triggered a financial crisis in an already struggling economy. Demands are coming not just from the opposition, but from members of the governing Conservative Party. Conservative lawmakers watched with mounting alarm as the pound sank to record lows, and the bank of England stepped in on Wednesday to stabilize U.K. financial markets. One Conservative lawmaker tweeted: “This inept madness cannot go on,” while another said he had “serious reservations” about the government’s plans. Opposition parties want Parliament called back early from a two-week break to confront the crisis. So far, Truss is sticking to her guns.