US President Joe Biden calls British Prime Minister Liz Truss’s abandoned tax cut plan a ‘mistake’

Portland: President Joe Biden called British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake” and said he was concerned that other countries’ fiscal policies would harm the US amid “global inflation.” Biden said it was “predictable” that the new prime minister on Friday forced to reverse plans to aggressively cut taxes without identifying cost savings after Truss’ proposal caused turmoil in global financial markets. It marked an unusual criticism by a US president of the domestic policy decisions of one of his closest allies.

“I wasn’t the only one who thought it was a mistake,” Biden said on Saturday.

“I don’t agree with the policy, but that’s up to Britain.”

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Biden’s comments came after White House officials refused to criticize Truss’s plans for weeks, though they emphasized they were closely monitoring the economic fallout.

Biden said he was not concerned about the strength of the dollar – it has set a new record against the British pound in recent weeks – which is beneficial for US imports but makes the country’s exports more expensive for the rest of the world.

The president said the US economy is “strong as hell.”

“I’m worried about the rest of the world,” he added.

“The problem is the lack of economic growth and sound policies in other countries.”

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