New Chancellor Jeremy Hunt to make statement on mini-budget TODAY as he fast-tracks tax plan

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FILE PHOTO: New Chancellor of the Exchequer Jeremy Hunt leaves 10 Downing Street in London, Britain, October 14, 2022. REUTERS/Henry Nicholls/File Photo

JEREMY Hunt will make a mini-budget statement TODAY bringing forward parts of his tax plan.

The new Chancellor’s announcement will see billions of pounds worth of measures from the Medium-Term Fiscal Plan fast-tracked.

Jeremy Hunt will make a mini-budget statement TODAY bringing forward parts of his tax plan

He will make a statement this morning before addressing MPs in the House of Commons later today.

The statement – brought forward by two weeks – is the latest Government effort to calm markets after borrowing costs rocketed.

Yesterday, Mr Hunt insisted Liz Truss is still “in charge” of the government despite Trussonomics being ditched.  

He insisted the party have 18 months to turn their fortunes around before an election as he signalled painful spending cuts to come.

Brought in to replace the sacked Kwasi Kwarteng and restore credibility to Downing Street, Mr Hunt is now widely seen as the most powerful figure in Government as he attempts to reshape the Prime Minister’s own economic plans to reassure the markets.

But he told the BBC that Ms Truss remains “in charge” and insisted voters can still put their faith in her.

He said: “She’s listened. She’s changed. She’s been willing to do that most difficult thing in politics, which is to change tack.

“What we’re going to do is to show not just what we want but how we’re going to get there.”