In a three-and-a-half minute video posted on social media, the ex-Conservative Party leader set out a defence of the economic plan, which was blamed for the country’s subsequent economic crisis.
Liz Truss has criticised the role of institutions and blamed the “anti-growth coalition” for failing to implement her tax-cutting agenda during her short stint as prime minister last year.
The government has abandoned most of the measures in sacked chancellor Kwasi Kwarteng’s ‘mini budget’ from September, with his replacement Jeremy Hunt calling stability the UK’s “most important...
Kwasi Kwarteng has become the second shortest-serving chancellor since the Victorian era, after resigning following weeks of disruption triggered by his package of unfunded tax cuts, with Jeremy Hunt...
A senior Conservative MP has suggested the government should row back on more of the tax cuts outlined in last month’s Growth Plan to “reassure the markets” after weeks of turbulence.
The “large and unfunded fiscal package” announced by Kwasi Kwarteng last month has been cited as one of the main reasons ratings agency Fitch cut its outlook for the UK’s credit rating to “negative...
The government is likely to make tens of billions of pounds of spending cuts in the next few years to meet its fiscal targets, following its market-spooking package of tax cuts, a panel at a think-...
The government’s ‘Growth Plan’ risks weakening public finances, worsening inequality and leading to the Bank of England aggressively raising interest rates, major international institutions have...
The Bank of England has insisted it will put interest rates up “by as much as needed” to get inflation under control, in response to market reaction to the government’s announcements last week.
Tax cuts in Friday’s ‘fiscal event’ are set to raise UK government borrowing by more than £30bn – more than half of the total increase in borrowing since the Office for Budget Responsibility last...
