Truss and Kwarteng press on with tax cuts after talks with finance chiefs

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LIZ Truss and Kwasi Kwarteng are pressing on with their tax cuts after holding urgent talks today with finance gurus to calm market jitters. The PM and Chancellor agreed to “work closely̶…

He said: “There's a lot of measures about how we're going to grow the economy, the detail is yet to come out.”Ms Truss yesterdayof an economic forecast before embarking on last Friday’s £45billion worth of tax cuts.

Sterling rallied slightly yesterday after the Bank’s intervention to buy Government bonds to save the pension industry from collapse. He said: “The judgement so far of markets is that what was announced last Friday doesn’t stack up fiscally and some changes are going to need to be made," Stride tells BBC Radio 4's Today Programme.Mr Griffith also hinted the Government’s plan to wrestle down debt could now be moved forward from the scheduled date of November 23.

 

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