Chancellor Jeremy Hunt will make a statement on Monday, with potential announcements about future changes to taxes, benefits and cost of living payments. In a statement, the Treasury said the Chancellor was fast-tracking plans – which will be released in full on October 31 – following conversations with the Prime Minister over the weekend.
It said Mr Hunt had also met with the Governor of the Bank of England and the Head of the Debt Management Office on Sunday night to brief them on the plans. Liz Truss will try to save her premiership this week, with her fate hinging on the mood of the market and her own backbench MPs.
All eyes will be on the market reaction on Monday morning, after the Prime Minister appointed Jeremy Hunt as Chancellor and effectively ditched her economic agenda in a bid to restore credibility to her ailing administration.
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