'What I'm going to do...is to show the markets, the world...that we can properly account for every penny of our tax and spending plans,' says newly appointed British finance minister Jeremy Hunt.
The chaos has fueled discontent in the governing party, already splintered before Friday and falling far behind the opposition Labour Party in opinion polls.
Crispin Blunt on Sunday became the first Conservative lawmaker to publicly say Truss could not survive as leader. “I think the game is up and it’s now a question as to how the succession is managed,” he told Channel 4’sBlunt did not say how such a change could happen, but that if enough of the party wanted it they would find a way.“I think that the idea of cutting taxes on the super wealthy at a time when – anyway, I just think – I disagreed with the policy, but that’s up to Great Britain to make that judgment, not me,” he said.
“I’m going to be asking every government department to find further efficiency savings,” he said, adding that while he wanted to keep other tax cuts the government has promised, he ruled nothing out in his drive to balance the books.said initial forecasts from the Office for Budget Responsibility showed a 72-billion-pound shortfall in the current plans. The paper also said Hunt would delay a planned cut to the basic rate of income tax.
A first test will come on Monday morning, October 17, when trading in Britain’s battered government bonds resumes without the support of
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