A key factor fuelling the cost of living crisis is the price of oil and gas.
The government’s plans for tax and spending will now be unveiled two and a half weeks later than expected.
The pound and bond prices took the announcement from Liz Truss in their stride.
With inflation still rising and economic policy switching back towards austerity, where does this leave our economy?
The chancellor is promising us more “eye watering” decisions on government spending and taxes as part of his mission to get the public finances back on track.
Jeremy Hunt has reversed Liz Truss’ economic programme, but where does that leave the economy and the public finances?
How have the financial markets reacted to Kwasi Kwarteng’s sacking and the prime minister’s announcement on sticking to an increase in corporation tax?
We discuss the reaction on the markets to another day of uncertainty and what possible tax u-turns might mean for all of us.
The cost of government borrowing has continued to soar after the Bank of England insisted that it will stop its emergency bond-buying programme this Friday, despite earlier reports that it would be extended.
The IMF says “the worst is yet to come” – and if that sounds like a tagline from a disaster movie that’s about the right mood. The IMF thinks more than a third of the global economy will shrink either this year or next. Everyone is taking a hit from the Russian invasion of Ukraine, the cost of living crisis and a slowdown in China driven by its Covid lockdown policies.
Despite government attempts to reassure financial markets, the cost of government borrowing shot up today.
18 trade unions have written to the Prime Minister asking for a “cast-iron assurance” that the government will not make further real terms cuts to public services. They claimed any cuts would be “an act of national vandalism”.
Where does the latest turmoil leave the UK economy and the government?
The pound’s volatility has heaped huge pressure on the Bank of England to raise interest rates once again.
The financial markets have given a very negative reaction to the Chancellor’s speech.