Anand Mahindra in his latest Twitter post called Britain ‘brutal’. I know why | Tech US News

A tabloid newspaper, the Daily Star, set up a live feed of unrefrigerated lettuce next to a picture of UK Prime Minister-elect Liz Truss to see which would last the longest. “Which wet lettuce will last longer,” the tabloid tweeted.

Mahindra reacted to Truss’s ruthless dig, calling Britain “brutal”.

“Great (brutal) Britain,” he quipped.

This week Truss sacked his finance minister Kwasi Kwarting after prolonged market turmoil. Truss insisted he had acted “decisively” to bring about “economic stability” — but the pound resumed its slide on currency markets, falling below $1.12.

Kwarteng was replaced by centrist former foreign secretary and former Tory leadership candidate Jeremy Hunt as Britain’s fourth chancellor this year.

Britain is suffering from financial crisis. British government borrowing costs hit a 20-year high on Wednesday after the governor of the Bank of England told pension funds to resolve liquidity problems before the bank withdraws support for emergency bond-buying. They have three days to

The country’s financial markets have been in turmoil since Finance Minister Kwarting unveiled tax cuts last month with no details on how they would be paid for.

Home prices rose last month at their slowest pace since the start of the coronavirus crisis and look set to fall as rising mortgage costs add to uncertainty about the economy for homebuyers. happens.

Think tank the Resolution Foundation predicted yesterday that one in five UK households will suffer financial losses from paying more for their mortgage between now and 2024.

It said more than 5 million families would see their annual mortgage payments rise by an average of 5,100 pounds ($5,700.27) over the next two years.

On Friday, sterling fell sharply against the US dollar as Truss scrapped parts of his economic package that has wreaked havoc on UK financial markets. The BoE has stepped in to buy UK gilts in the past few weeks in an attempt to stabilize the bond market.