The PM and Chancellor will meet on Sunday as tax rises and spending cuts loom on the horizon.
Liz Truss’s economic vision appeared doomed on Sunday, as she sought to stay in power despite an increasingly shaky-looking premiership.
Earlier, he told broadcasters: “Spending will not rise by as much as people would like and all Government departments are going to have to find more efficiencies than they were planning to.” Earlier, Governor of the Bank of England Andrew Bailey said he spoke to Mr Hunt on Friday after his appointment as he warned that interest rates may have to be raised higher than initially expected to tackle inflation.
Asked about her original economic strategy, he added that while he disagreed with her plan, it was up to the British people.Mr Biden also dismissed concerns about the strength of the dollar: “The problem is the lack of economic growth and sound policy in other countries.” After completing several interviews on Saturday, the new chancellor will later appear on BBC One’s Sunday with Laura Kuenssberg.
Sir Geoffrey Clifton-Brown told LBC on Saturday that for Ms Truss it all hinges on how the markets receive the fiscal plan at the end of the month.While he said he believes Mr Hunt could steady the ship, he warned that if “it doesn’t manage to satisfy the markets and satisfy everybody else and the economy is still in chaos then I think we would be in a very difficult situation”.
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