The Scottish Government has asked for an urgent meeting with the Chancellor to discuss "reversing the damaging effects of the UK Government's tax proposals".
Deputy First Minister John Swinney, along with Finance Ministers from Wales and Northern Ireland, have written to Kwasi Kwarteng claiming his recent financial package is "a huge gamble on public finances and the health of our economy" with his £45 billion package of tax cuts.
In no uncertain terms, the devolved governments called Kwarteng's controversial mini-budget the largest set of unfunded tax cuts for the rich in over 50 years”.
They have warned against being condemned to another decade of austerity and expressed deep concern over reports that UK Government departments will be asked to make spending cuts to balance the budget.
The letter said: "The UK Government has taken a huge gamble on the public finances and the health of our economy. Even prior to last Friday, the UK, like many other countries, was already facing the most severe economic upheaval in a generation.
"The UK Government has chosen to make things significantly worse by announcing a huge package of tax cuts for the most wealthy without any credible explanation of how these will be paid for.
"Urgent action is required now to address the issues facing our economy, public services and households across the country.
"Such action cannot wait until the update you have announced will take place in November.
"Our budgets are already stretched beyond the maximum and as responsible governments we are having to make very difficult decisions to balance our budgets, as we do not have the flexibility or borrowing powers that the UK Government has. This approach is unlikely to be sustainable and is putting services at risk."
The Ministers renewed calls for the UK Government to provide targeted support for households and businesses, funded through a windfall tax on the energy sector.
In addition, they've asked for Social Security benefits to be increased, and request additional resources for the devolved governments to protect public services and to fund public sector pay settlements.
The letter added added: "With the crisis deepening and the prospects for the economy deteriorating by the day, it is essential that you take action to reverse the damage these policies are causing, for the benefit of all parts of the UK. We also seek an urgent quadrilateral meeting with you to discuss this further."
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