According to Liz Truss, UK Prime Minister, currencies and economies across the globe are under tough economic pressure because of a massive unfunded tax cuts package this week.
"We are facing very, very difficult economic times.".
A crisis of confidence in Truss's economic policies has battered her administration less than one month after she took office,
causing the pound to collapse and borrowing costs to skyrocket, which threatens the housing market as well as pushing the UK into recession.