The heavily criticised mini-budget has put additional pressure on the UK’s debt affordability and weakened the credibility of government policy, ratings agencies have said.
Jeremy Hunt’s time as chancellor has begun with a government u-turn that appears to go against his own instincts, before he has made a single public statement.
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...
People on benefits face “crushing poverty” if payments are not increased in line with inflation, Kwasi Kwarteng has been told, amid concerns the government could refuse to do so.
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.
The government’s package of tax cuts aimed at boosting economic activity are unlikely to stimulate enough growth to pay for themselves, and could lead to future tax rises or spending cuts, economists...
New chancellor Kwasi Kwarteng announced a raft of tax cuts including a reduction in national insurance payments, in a move he said will shift the economy from a “vicious cycle of stagnation into a...
The Treasury has confirmed the fiscal event taking place on Friday will not come alongside a full forecast from the Office for Budget Responsibility, despite concerns from MPs and experts.
New chancellor Kwasi Kwarteng’s first ‘fiscal event’ to provide more details on the energy support package will take place on 23 September, PF understands.
