All the updated news related to mini budget

All the news related to mini budget updated in real time

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UK ‘hours’ from potential financial meltdown after mini-budget, Bailey confirms

The UK was just hours from potential total financial meltdown in the wake of Liz Truss’s disastrous mini-budget, the Governor of the Bank of England has confirmed. Andrew Bailey said the Bank was forced to step in “quickly” and “decisively” to ...

03 Nov 2022 at 21:51

Truss tells MPs she is sorry and has made mistakes as she fights for survival

Liz Truss made a public apology in the Commons as she faced Prime Minister’s Questions for the first time since her economic plan was ditched by Chancellor Jeremy Hunt. The Prime Minister told MPs: “I have been very clear that I am sorry and ...

19 Oct 2022 at 15:00

Backbenchers should unite behind Prime Minister, says Badenoch

Tory backbenchers threatening to revolt should unite behind the Prime Minister, Kemi Badenoch has said. Liz Truss has been facing growing scrutiny from within her own party in recent weeks amid the fallout from her Government’s mini-budget. ...

13 Oct 2022 at 16:58

Government bonds and pound rally amid pressure for mini-budget U-turn

UK government bonds and the pound rallied amid speculation that Liz Truss’s Government could be forced to U-turn on its unfunded tax cut plans. Pressure on gilts – UK government bonds – also eased as the Bank of England sought to steady ...

13 Oct 2022 at 18:19

Truss vows to fight on as Tory MPs go public with concerns about her leadership

More Tory MPs have heaped pressure on Liz Truss to exit No 10 as the Prime Minister insisted she was a “fighter, not a quitter”. She made a public apology in the Commons as she faced Prime Minister’s Questions for the first time since ...

19 Oct 2022 at 15:50

Signs the mortgage market is steadying as fixed rates remain static

Average two- and five-year fixed mortgage rates have held steady for four days in a row, in signs that the home loans market could be steadying following the turmoil seen in recent weeks. Across all deposit sizes, the average rate ...

17 Oct 2022 at 11:25

Hunt: Tax rises and spending cuts on cards with ‘difficult’ decisions ahead

Liz Truss’s new Chancellor signalled his plan to upend the Prime Minister’s entire economic strategy in an extraordinary rebuke of the pledges that brought her into office. Political and economic circles spent Saturday sizing up ...

15 Oct 2022 at 18:04

October fiscal plan effectively a full budget, says new Chancellor

The new Chancellor has admitted that the medium-term fiscal plan will now effectively amount to a full budget, as he signalled a major shift in the economic policies that brought Liz Truss to power. In a series of interviews, ...

15 Oct 2022 at 14:27

Jeremy Hunt becomes Chancellor as Kwasi Kwarteng is dramatically sacked

Jeremy Hunt is new Chancellor as Kwasi Kwarteng is dramatically sacked

Liz Truss has appointed former foreign secretary Jeremy Hunt as the new Chancellor of the Exchequer after she dramatically sacked Kwasi Kwarteng. The choice of Mr Hunt, a prominent backer of her rival Rishi Sunak in the Tory ...

14 Oct 2022 at 16:18

Kwasi Kwarteng pays price for mini-budget chaos as he is sacked by Liz Truss

Kwasi Kwarteng has paid the price for the chaos unleashed by his mini-budget as he flew back to London to be dramatically sacked by Liz Truss. The Chancellor cut short his attendance at the International Monetary Fund’s ...

14 Oct 2022 at 14:59

City

FTSE 100 rises but tax policy reversal a ‘sticking plaster’ on market turmoil

London markets have closed in the green after an extraordinarily turbulent week that ended with the Chancellor ousted and the Prime Minister reversing a key policy in their fiscal plan. It has been a difficult week for ...

14 Oct 2022 at 18:45

Bank of England ‘blindsided’ by unexpected elements of mini-budget

The deputy governor of the Bank of England has said that the Government did not fully brief the Bank on its mini-budget and sweeping tax-cutting plans before it was unveiled. Sir Jon Cunliffe was asked by Mel Stride, ...

19 Oct 2022 at 20:08

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