UK economic strategy is ‘cautionary tale’, says top Joe Biden official

The UK government’s radical economic strategy is a “cautionary tale”, said a senior member of Joe Biden’s cabinet in scathing remarks about prime minister Liz Truss’s plan.

US commerce secretary Gina Raimondo said cutting taxes and deregulation was a “failed economic theory” that would lead to lower growth and greater inequality.

Ms Raimondo said it was “hard to see” how Ms Truss’s new government was taking inflation seriously, and insisted that the US was talking a quite different approach.