UK prime minister calls press conference amid U-turn calls

By DANICA KIRKA
Associated Press

LONDON (AP) — The British government says Prime Minister Liz Truss will hold a news conference Friday as she faces pressure to U-turn on an economic package that sparked market turmoil. The announcement comes after Treasury chief Kwasi Kwarteng cut short a visit to Washington to fly back to London for crisis talks. The pair are facing intense pressure to scale back unfunded tax cuts to calm financial markets. Truss is also facing a revolt from her own Conservative Party over the chaos unleashed by her economic plans. Investor are concerned that the planned 43 billion pounds ($48 billion) of unfunded tax cuts will push public borrowing in Britain to unsustainable levels and fuel inflation.