Truss sticks to tax cut plan despite market turmoil

A day after the Bank of England resumed its bond-buying in an emergency move to protect pension funds from partial collapse, Ms Truss blamed the upheaval on Russia's invasion of Ukraine that has caused inflation to spike around the world.

She defeated former finance minister Rishi Sunak by vowing to put an end to"Treasury orthodoxy" with a new economic policy that would cut taxes and regulation, funded by vast government borrowing to snap the economy out of years of stagnant growth. "The mini budget was absolutely essential in resetting the debate around growth and focusing us on delivering much better growth outcomes," he said, during a visit to a local business in northern England.

Investors and economists have said they cannot wait another eight weeks for details with borrowing costs elevated and markets volatile.

Lol helping people? 4% tax cuts for the rich and 1% for the poor… how’s that helping the people? Current 10DowningStreet is incredibly incompetent

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