'There were some mistakes made in the last few weeks, that's why I'm sitting here' Chancellor Jeremy Hunt says mistakes have been 'addressed' and the UK government aims to 'create growth with stability'
David Lammy at the Labour Party conference in SeptemberShadow foreign secretary David Lammy has just been speaking to BBC Breakfast.
The Labour MP said the prime minister has not"stabilised the ship" by sacking Kwasi Kwarteng because"everyone knows this was her mini-budget"."This was a crisis made in No 10 by Liz Truss. It's unprecedented for a G7 nation to have a run on its currency, to have yields up, to have changes in fiscal policy overnight and to have four chancellors of the exchequer over the last four months.
Lammy was referring to yields on gilts, or government bonds, which have risen as a consequence of global factors - such as the war in Ukraine - and in response to September's mini-budget. The higher the yield, the higher the cost of government borrowing. He described the PM as being in"absolute chaos", and says the country can't keep"playing pass the parcel" with who is running the Conservative Party and the country.“When people are looking for credibility when they’re looking for and stability, they don’t get that from Liz Truss."
Asked whether new chancellor Jeremy Hunt can provide stability, Lammy said:"Jeremy Hunt in his campaign was calling for even deeper unfunded tax cuts."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liz Truss appoints Jeremy Hunt as new Chancellor after Kwasi Kwarteng sackingPrime Minister Liz Truss appointed Jeremy Hunt after sacking Kwasi Kwarteng earlier today
Read more »
Jeremy Hunt Appointed New Chancellor As Liz Truss Battles To Save PremiershipThe prime minster sacked Kwasi Kwarteng after her mini-Budget triggered market turmoil.
Read more »
Jeremy Hunt named new Chancellor after Liz Truss fires Kwasi KwartengJEREMY Hunt has today been named Britain’s new Chancellor after Liz Truss fired Kwasi Kwarteng. The former foreign and health secretary was confirmed as the top Treasury Minister by Downing S…
Read more »
Jeremy Hunt new chancellor after Liz Truss sacks Kwasi KwartengHis appointment is a sign that Liz Truss is trying to get her opponents onside
Read more »
Jeremy Hunt made chancellor after Liz Truss sacks Kwasi KwartengThe former minister under Theresa May and David Cameron is back on the frontbenches after three years, with Liz Truss hoping he will unify the party and the country after not backing her in the Tory leadership contest.
Read more »
Can Liz Truss see eye to eye with her new chancellor Jeremy Hunt?Ideologically they may see eye to eye on keeping corporation tax low - Mr Hunt told Sky's Sophie Ridge in July he not only wanted the tax not to rise but he wanted it slashed further - but Mr Hunt is by no means seen as an obvious bedfellow for the prime minister.
Read more »