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5/18, 8:28 AM (Source: TeleTrader)
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Economic situation in UK 'very difficult' - Truss

British Foreign Secretary Liz Truss stated on Wednesday, talking to the Sky News, that the country is going through a "very, very difficult economic situation."

"We're facing some very serious global headwinds... inflation is extremely high," said Truss sharing her concerns over the windfall tax, which is a one-off tax on companies that have made unexpected profits. The secretary stated that such taxes make it "difficult to attract future investments" and that one of the solutions to get the businesses into the UK would be to lower them.

The comment comes after the Office for National Statistics reported that the inflation in the country saw an annual increase of 9% in April.

Baha Breaking News (BBN) / AY