Kwarteng vows to curb spending but doubles down on mini budget despite days of market turmoil

  • 📰 LBC
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 74%

United Kingdom Headlines News

United Kingdom Latest News,United Kingdom Headlines

Kwasi Kwarteng has promised to bring government spending under control after a week of financial turmoil sparked by his mini budget

He went on to say the government's next statement - a "medium-term fiscal plan" on November 23 - will include a "commitment to spending discipline".It comes after

Although the government has a healthy majority, it would only take around 35 Conservative MPs to put any legislative proposals at risk.'Stupendously out of touch': Govt savaged after saying £30k worker could buy terraced home in LondonThe government will try and ensure some elements do not go to a parliamentary vote, but that will not be possible for everything.

MPs may argue that they are not bound by elements, like the 45p rate, which were not included in the Conservative 2019 manifesto.On Friday the Prime Minister and the Chancellor met the Office of Budget Responsibility for emergency talks after their mini budget spooked the markets.Ms Truss and Mr Kwarteng are expected to release the UK's financial forecast within days.

Source: News Formal (newsformal.com)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

He should be called the Tory undertaker; he has put the first nail in the party's coffin. They might as well start packing ready to be removed from Downing Street

Destroyed the economy in 3 weeks. Tremendous work.

So there you have it. To fix the mess he created he can start to slash spending. Bye bye benefits.

So he’s just saying things and doing stuff… No actual financial planning required… Truly Fascinating…

Doing stand up now?

Can't we get a refund on that faulty test and trace system? Or the sub standard PPE?

So he promised to cut public spending?…. To fund the riches? He is amazing!!!!

It’s a combination of both BoE and the Government. MarkCarney managed a foreign country’s economy much better than the native British!

Oh god not again

Thérèse Coffey is ditching the government's long-promised white paper on health inequalities, despite the 19-year gap in life expectancy between rich and poor!

Kwarteng is a national liability.

Isn’t the £ rising now?

Yeah with public sector cuts 🙄

You need to go you don’t know what your doing

Oh. The disgraced Abbot who got taken off air due to his views on the Queen spewing more anti Trump filth then adding if he and Truss get in there will never be another election again. Going full left wing rant now.

I hope You guys like anal.....

The caller is talking about duty free who does it benefit 🇬🇧🙄

'Think about the cost to the British economy of mass unemployment, a collapse in consumer spending, and viable businesses going to the wall... doing nothing was not an option.' We have low unemployment Crazy Coatanger! We've vacancies we can't fill. Do something yes. Go now.

I think that ship has sailed.

Is “doubling down” the opposite to “When you are in a hole, stop digging”?

get ready my fellow poor...

just fook off, please with the bull.

By punishing the poverty stricken.

Only Kwasi Kwarteng can claim to be able to save us from Kwasi Kwarteng.

Just look at what private equity has done to care homes 🇬🇧🙄

NIAbbot Back in the day when Kwasikwarteng was doing The Halifax adverts...he was giving everybody extra ThickLizzie MiniBudget poundcrash Kami- KwasiKwartengmustgo

Babe it doesn’t seem right to let the government roll the dice 🎲 without a mandate 🇬🇧

These gimps are running our country into the ground robbing the poor to give to the rich truss the wuss thinks it’s hilarious enjoy ur time bcoz next time you lot are gone for good the people are sick of your tractor porn watching whoppers destroyed our country in 7 days get rid

It's not out of control. He's just thrown all the money away. He's a very dangerous man

Criminals! This far right free market greed cult will soon officially reveal they’re going to steal from the poor to give to the very very rich. Civil unrest is going to happen if they’re not stopped. ToryCriminals ToryCorruption torychaos

That’s nice of him. He is a reverse of Robin Hood takes from the poor and gives it to the rich.

Kwasi announcements should come with a Bullshit alert

Very nice but is he still standing firmly behind Liz

Truss. £500k to fly to Australia to sell.....our farmers down the river.

The few thousand conservative gammons have gambled the countries fiscal security to a poor persons laurel and hardy. When the majority of economists, government and the country can see they are trying to run things into the ground

So massive tax cuts for the highest earners, paid for by cutting benefits to those worst off... yep, makes total sense.

I’m glad that not all humans fear change 🇬🇧💋

Oh, well that’s alright then. You crack on mate.

By hurting the poorest,elderly ,disabled and their carers

What an adorable story. Look forward to reading it to my children outside the home we will soon no longer be able to afford

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 17. in UK

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chancellor Kwasi Kwarteng insists government 'protecting people across UK' as he defends mini-budgetLiz Truss and Kwasi Kwarteng are forging ahead with the mini-budget plans announced last week. They sparked economic turbulence but the PM and chancellor insist the large tax cuts will promote growth. 'and I'm out of my depth and just making it up as I go' Each day that Kamikwasi delays his resignation will add to the market turmoil. He must go. Money doesn't like noise, stop talking about weak pounds within 3 days and see difference ( how strong it will be)
Source: SkyNews - 🏆 35. / 67 Read more »

Rupa Huq MP's Kwasi Kwarteng remarks were racist - London mayorLabour MP Rupa Huq's remarks about Chancellor Kwasi Kwarteng were racist, says London Mayor Sadiq Khan We know, we don't need him to tell us No shit Sherlock ! 🥴 Every time I see a picture of her, she looks like she's about to murder someone.
Source: BBCNews - 🏆 3. / 97 Read more »

Rupa Huq MP's Kwasi Kwarteng remarks were racist - London mayorThe Mayor of London said the Ealing Central and Acton MP's comments were 'wrong' but confirmed Huq was 'not racist'. But if a white person said exactly the same thing, then🤔🤔🤔🤔🤔 shut up SadiqKhan Well of course he would.... He 'confirmed' it? Like it was a fact that had somehow got missed during the furore?
Source: BBCLondonNews - 🏆 115. / 51 Read more »

Kwasi Kwarteng crashes the bond market love-in\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT. The problem is the reluctance to raise base rates to the realistic levels appropriate for a poorly performing economy like the UK. By trying not to overshoot, this is putting the stresses into the bond market and debt financing. Something has to give.
Source: FT - 🏆 113. / 51 Read more »

Meet Britain’s chancellor of the exchequer. He’s rather oddLast week Britain’s new chancellor of the exchequer (or finance minister) delivered a mini-budget that has left markets reeling. But who is Kwasi Kwarteng and why is he rather odd? Illustration: Nate Kitch Well according to your pay wall he could go either way so maybe reason is in the weird now. Soon to be ex-chancellor... “Why is he rather odd ?”, “He’s a bit weird” hmmm I am sure these comments have nothing to do with his race.
Source: TheEconomist - 🏆 6. / 92 Read more »

All the Tory MPs who've publicly objected to Liz Truss and Kwasi Kwarteng's mini-budgetOne backbench Tory MP said some in the party were 'in despair' at the approach taken and didn't think it was going to end well. Others have sent letters of no confidence about Liz Truss to the 1922 Committee
Source: i newspaper - 🏆 8. / 89 Read more »