Growth push went 'too far, too fast', says UK finance minister Hunt

After Prime Minister Liz Truss was compelled to fire his predecessor and make U-turns on tax-cutting plans due to market instability, Britain's new finance minister

Jeremy Hunt, declared that the government had gone "too far, too fast" in its pursuit of growth.

On Friday, Truss replaced Kwasi Kwarteng with Hunt and stated that she was rescinding portions of their divisive economic plan, which had been unveiled just three weeks before and featured billions of pounds in unfunded tax cuts.

"My emphasis is on stability-supported growth. The focus on economic growth is justified since it will lead to more people finding solid jobs.

the success of new firms, and the provision of top-notch public services "Late on Saturday, Hunt stated.

After Kwarteng's "mini-budget" on September 23 caused a decline in the value of the pound and government bonds, forcing the Bank of England (BoE).


Follow us on

Wealth Baba


The Federal Reserve Race To Take Down The S&P 500 And Break The World