Kwasi Kwarteng will pledge to “turn the vicious cycle of stagnation into a virtuous cycle of growth” as he sets out the new Government’s approach to the UK economy.
The Chancellor will announce tens of billions of pounds both of increased spending and of tax cuts in his mini-budget, officially known as a “fiscal event”, at around 9.30am on Friday.
The statement is expected to include details of how the Government will fund the energy price cap for households and businesses, and put into practice many of Prime Minister Liz Truss’s tax-slashing promises.
