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The Independent UK

National

Jon Stone

How Kwasi Kwarteng’s budget damaged the economy and what will happen now

Kwasi Kwarteng Budget Economy Tax Cuts United Kingdom Bank of England Interest Rates Liz Truss Inflation

POOL/AFP via Getty Images

The fallout from chancellor Kwasi Kwarteng's mini-budget has been overwhelmingly negative.

The government's economic policy has been described as a "doomsday cult" by the chief economist of UBS, the world's largest wealth manager.

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