Jeremy Hunt has announced the government will make a number of U-turns as he rips up the Government's mini-budget. He made the announcement during a televised address on Monday (October 17).
The measures are part of plans to fast-track billions of pounds of savings in an attempt to get the public finances back on track and stabilise financial markets after weeks of turmoil.
It follows talks over the weekend between Mr Hunt and Prime Minister Liz Truss on what the Treasury described as measures “to ensure sustainable public finances underpin economic growth”. READ MORE: Greggs addict lost SIX STONE after ditching her steak bake and bean melt diet Mr Hunt has already warned that taxes will have to rise and public spending will be squeezed to address the black hole in the public finances opened up by former chancellor Kwasi Kwarteng’s £45 billion mini-budget tax giveaway.
The decision to issue a statement ahead of his appearance at the despatch box was being seen as a sign of the urgency of the situation within Government.
Read more on manchestereveningnews.co.uk
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