BoE chief has 'meeting of minds' with new UK finance minister

"It's not appropriate for me to constrain the choices he makes," Bailey said."I can tell you there is a very clear and immediate meeting of minds on the importance of stability and sustainability," he said, at the G-30 international banking seminar, during the annual meetings of the International Monetary Fund.on Friday and abandoned a key plank of their budget, pledging to raise corporation taxes after all.

Kwarteng had rushed back to London from the IMF meetings in Washington, where the crisis lender's chief had lectured him about the need for a"coherent" fiscal policy that does not undermine central bank efforts to contain inflation. Hunt, a former foreign minister, admitted on Saturday that"mistakes" had been made, saying Kwarteng and Truss had erred in trying to cut taxes for the highest earners.

Presenting their plan without independent forecasts from the Office for Budget Responsibility, he added, amounted to"flying blind."

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kwasi Kwarteng: End of a short road for UK's finance ministerHis sacking represents a humiliation for the Cambridge- and Harvard-educated former Chancellor of the Exchequer. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »

British PM Liz Truss fires finance minister Kwasi Kwarteng: ReportLONDON: British Prime Minister Liz Truss has fired her finance minister Kwasi Kwarteng, the BBC reported on Friday (Oct 14), shortly before she is expected to scrap parts of his economic package in a bid to survive the market and political turmoil gripping the country. Downing Street confirmed that Truss,
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Britain's finance minister Kwasi Kwarteng to be sacked: British mediaHe is being blamed, along with Prime Minister Liz Truss, for sending the British economy into a tailspin. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »

UK finance minister says 'not going anywhere' amid talk of new U-turnsKwasi Kwarteng insisted he was safe in his job. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »