U-turn

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U-turn

a sudden reversal of government ECONOMIC POLICY, often resulting from some unforeseen event (such as the oil price increases of 1973 and 1979, and the depreciation of the UK pound in 1992) or a rethink of a particular policy initiative that has failed to have its desired effect.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Stoke, however, have lost both of their first two league matches at the Britannia Stadium this term, an about-turn in fortunes as they suffered only three defeats on home soil all last season.
MOD chiefs have done an about-turn to allow 1,000 witches, warlocks, druids and spiritualists to join the armed forces.
But the MoD announced an about-turn - preventing an erroneous use of taxpayers' money over four years - after Firmin chief executive Tim Newnes had called the Ministry's procurement practices 'dysfunctional and potentially illegal.'
But in an embarrassing about-turn organisers have axed the panto.
The axing of Chase represents a startling about-turn by coach Steve McNamara, who has largely kept faith with the New Zealand-born half-back ever since he switched his allegiance two years ago.
Speaking this week, Breeders' Cup chief executive Craig Fravel as good as gave his backing to Santa Anita's about-turn. That was a shame.
According to Ria Novosti news agency, the 7am flight from Moscow's main Domodedovo airport did an about-turn 15 minutes after take-off because of the 39-year-old woman's antics.
David Cameron heralded the about-turn at Prime Minister's Questions on Wednesday, when he stated bluntly that he was unhappy with the policy.
Summary: BEIRUT: Ansar will participate in the forthcoming AFC Cup after an about-turn following Wednesday's withdrawal from the competition due to a lack of funds.
Elysium III have signed a major record deal after an about-turn which has seen them turn their voices to rock classics.
He then performed an about-turn last month so that Warrington could sign former Canberra centre Joel Monaghan but has now agreed a one-year deal with the Parramatta Eels which he will finalise on his return to Sydney on Christmas Eve.