London politics latest LIVE: Jeremy Hunt faces questions as PM attempts to resurrect premiership

Posted on October 16, 2022Comments Off on London politics latest LIVE: Jeremy Hunt faces questions as PM attempts to resurrect premiership
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eremy Hunt will face questions from the BBC’s Laura Kuennsberg as he attempts to restore stability following the sacking of Kwasi Kwarteng.

Later on Sunday, Mr Hunt will meet with the prime minister at Chequers in a bid to thrash out their economic plans.

On Saturday, the new Chancellor faced a series of questions where he was forced to defend Liz Truss’s economic plan, albeit adding that mistakes had been made surrounding the mini-Budget.

In his first full day in office, he warned of “very difficult decisions” to come as he suggested taxes could rise and budgets – including health and defence – are likely to be squeezed further in the coming months.

He also added: “Spending will not rise by as much as people would like and all Government departments are going to have to find more efficiencies than they were planning to.”

The Chancellor’s comments were accompanied by remarks from Andrew Bailey, Governor of the Bank of England, who gave a speech in Washington warning of even higher interest rates next month.

In apparent criticism of the former Chancellor, Mr Bailey also said that “flying blind” with public finances is not an option.

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Joe Biden criticises PM’s economic plan

US President Joe Biden has said the prime minister’s economic plan to cut taxes for the most wealthy was a mistake.

During a stop at an ice cream shop in Oregon as he helped campaign for Tina Kotek, who is running for Governor or Oregon, he added: “I wasn’t the only one that thought it was a mistake.”

The White House has refrained from commenting on Truss’ problems and when asked about the strength of the U.S dollar, Mr Biden said, “I’m not concerned about the strength of the dollar. I’m concerned about the rest of the world.”

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Comments Off on London politics latest LIVE: Jeremy Hunt faces questions as PM attempts to resurrect premiership