Jeremy Hunt will set out billions of pounds of savings to stabilise the public finances in an emergency statement later today.
The Treasury said the move - following talks over the weekend between the new Chancellor and Prime Minister Liz Truss - was designed to "ensure sustainable public finances underpin economic growth".
Following his statement, Hunt will address the House of Commons later ahead of the publication of his full medium term fiscal plan on October 31. The move will be seen as an attempt to reassure the financial markets after weeks of turmoil in the wake of former chancellor Kwasi Kwarteng 's £45 billion mini-budget tax giveaway.
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