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Chancellor's Statement On Mini Budget U-Turn Underway

UK

Chancellor of the Exchequer Jeremy Hunt delivering statement to the Commons on the reversal of nearly all the measures announced in the 23 September mini budget by his predecessor Kwasi Kwarteng.

  • Livestream: https://www.youtube.com/watch?v=jDtfioiaBMU
  • Hunt: 'We are a country that funds our promises and pays our debts'.
  • Hunt: 'We must take decisions of eye-watering difficulty if needed'.
  • Hunt: "We need to do more, more quickly to give markets certainty'.
  • Hunt: "UK economic volatility due to a lack of an OBR forecast related to the mini-budget, inflation, and interest pressures around the world'.
  • Treasury tweets: "The repeals of the 2017 and 2021 reforms to the off-payroll working rules known as IR35 from April 2023 will no longer take place. This is worth around £2 billion a year."
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