UK Treasury chief dashes back to London amid crisis

By DANICA KIRKA
Associated Press

LONDON (AP) — Britain’s Treasury chief is dashing back to London for urgent talks with Prime Minister Liz Truss amid growing expectations that they will scale back unfunded tax cuts to calm financial markets and quell a burgeoning revolt by members of their own party. Kwasi Kwarteng left the International Monetary Fund’s annual meeting a day early amid the crisis triggered by investor concerns that 43 billion pounds ($48 billion) of tax cuts will push public borrowing in Britain to unsustainable levels and fuel inflation. Kwarteng on Thursday rejected suggestions that the government would reverse course, but senior members of the Conservative party are publicly advising the government to take action.