The new Chancellor is rushing forward measures that had been due to be announced on October 31 in a bid stabilise financial markets.
17 October 2022
New Chancellor Jeremy Hunt is issuing an emergency statement to rush forward measures that had been due to be announced on October 31 in what is known as the medium-term fiscal plan.
Mr Hunt will fast-track billions of pounds of savings in an attempt to get the public finances back on track and stabilise financial markets after weeks of turmoil in the wake of former chancellor Kwasi Kwarteng’s mini-budget.
The Chancellor will then address MPs in a statement to the House of Commons later in the afternoon.
He and Prime Minister Liz Truss held talks over the weekend on what the Treasury described as measures “to ensure sustainable public finances underpin economic growth”.
11am
Video: Jeremy Hunt to make emergency statement in bid to stabilise the markets
