Liz Truss claims controversial tax cuts are 'the right plan' despite UK financial crisis 

Ms Truss has made the most turbulent debut of any British prime minister in peacetime

UK Prime Minister Liz Truss' administration has been battered by a crisis of confidence in her policies that have triggered a collapse in the pound and a surge in borrowing costs that threaten to push the UK toward a deep recession and a housing market crash.

British Prime Minister Liz Truss showed no sign of backing down on her economic policies that yesterday forced a dramatic £65bn (€73.5bn) intervention from the Bank of England, blaming Russia’s war in Ukraine for the market turmoil that pushed the pound to a record low.

The British currency and the price of British government debt fell after the comments, her first since the £45bn of unfunded tax cuts were unveiled six days ago.  The central bank was forced to step in and buy gilts as a week of market upheaval left many pension funds facing margin calls.