Truss ally says spending cuts on the way as government plans to align 'extremely large state' with 'low tax economy'
They warned against being condemned to another decade of austerity and expressed deep concern over reports that UK government departments would be asked to make spending cuts to balance the budget, which may have profound consequences for devolved budget settlements already eroded by inflation.
The mini-budget resulted in a tumultuous week which saw the pound fall to an all-time low against the dollar and the Bank of England being forced to spend billions to prevent a collapse of the pensions industry.Mr Clarke admitted it had been an"uncomfortable week" and defended Ms Truss, but said she would not be deflected from policies they predicted would be unpopular, and suggested her task was analogous to that faced by"If I was to describe one word for Liz...
Mr Buckland said he hopes the government's upcoming announcements will be seen by the market as displaying"fiscal discipline". "Whether it's childcare... or... broadband connectivity, all these things add up to an overall package that is designed to, first of all, facilitate growth in the economy, but secondly to emphasise that the government is responsible."Overnight, Mr Kwarteng said the public expected public spending to be tightly controlled.
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