Analysis shows former PM was responsible for half of the Treasury’s £60bn fiscal hole as chancellor prepares to announce cuts in Thursday’s budget
Liz Truss’s disastrous mini-budget cost the country a staggering £30bn – doubling the sum that the Treasury says will have to be raised by Jeremy Hunt this week in a huge programme of tax rises and spending cuts.
The independent Resolution Foundation calculates that the Truss government was responsible for about £30bn of the fiscal hole which the Treasury puts at £60bn, and which Hunt will have to tackle in the autumn statement on Thursday.
Continue reading…Analysis shows former PM was responsible for half of the Treasury’s £60bn fiscal hole as chancellor prepares to announce cuts in Thursday’s budget Liz Truss’s disastrous mini-budget cost the country a staggering £30bn – doubling the sum that the Treasury says will have to be raised by Jeremy Hunt this week in a huge programme of tax rises and spending cuts.The independent Resolution Foundation calculates that the Truss government was responsible for about £30bn of the fiscal hole which the Treasury puts at £60bn, and which Hunt will have to tackle in the autumn statement on Thursday. Continue reading…