Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng (PA)
(Picture: PA Wire)Concern about the Truss-Kwarteng “dash for growth” mini-budget has morphed into the threat of a full-scale financial crisis, prompting the Bank of England to do more quantitative easing to ease panic in the market for government bonds.
The trigger was the plan to cut taxes by about £45 billion a year, indefinitely, in the hope that this, and some reforms to planning and other regulations, would stimulate the supply side of the economy so that it would grow and revenues would recover, despite the fall in tax rates.
