Liz Truss
Early during her time as prime minister, she was criticized over her handling of the economy through tax cuts and limiting energy prices. She cut taxes on businesses and reduced government regulation. Her tax plans were called Trussonomics and were inspired by by the economic policies of U.S. President Ronald Reagan, known as Reaganomics, and Margaret Thatcher-era Chancellor of the Exchequer, Nigel Lawson. Her tax policies were criticized by the International Monetary Fund, U.S. President Joe Biden, senior Conservative politicians Michael Gove and Grant Shapps, and the Bank of England. Her policies caused the pound to fall to a record low against the US dollar and an increase in the cost of government borrowing. In response, she fired Exchequer Chancellor Kwarteng and replaced him with Jeremy Hunt on 14 October 2022.