Pound falls as UK budget talks fail to reassure
STORY: Britain’s independent budget watchdog walked into Downing Street on Friday (September 30).
The talks with Prime Minister Liz Truss and Finance Minister Kwasi Kwarteng come after plans for huge tax cuts sparked a market meltdown.
The measures were announced without any forecasts by the Office for Budget Responsibility - a step that would normally be expected.
In the days that followed, the pound plunged to record lows versus the dollar, and the Bank of England was forced to step in to calm fevered selling of UK government bonds.
OBR chair Richard Hughes spoke after Friday’s meeting:
''We saw the prime minister and chancellor, we talked about some economic and fiscal outlook, we're going to be providing the chancellor with an update of our forecasts next Friday and we'll set up a timetable for our forecast process next week.’’
The government has vowed not to alter the content or timing of the tax plans.
Kwarteng remains committed to giving a fiscal statement on November 23.
On Friday, officials confirmed that the OBR’s forecasts also won’t be published until that day.
Critics, including many in the ruling Conservative party, have said markets need reassurance long before then.
Truss appears unmoved though.
She says market turbulence is more down to Russia’s invasion of Ukraine, and says her plan will help spur economic growth.
The pound resumed falls after Friday’s meeting, however, dropping around half a percent against the dollar.
相關影片推薦
- 1:26女長期睡機場又大鬧國門 不聽勸阻遭警驅離東森新聞影音295,673 次觀看・1 天前
- 1:582024環球小姐取消年齡上限 阿根廷60歲佳麗驚歎出線 爭取為國爭光Yahoo奇摩(國際通)20,501 次觀看・9 小時前
- 1:02最狂捐血禮!捐500cc送「黃金媽祖」 吸民眾排隊捐血華視影音29,055 次觀看・7 小時前
- 1:45男跳上銀行櫃檯咆哮 情緒失控喊:要搶回我的錢東森新聞影音27,978 次觀看・5 小時前
- 1:26婚後婆媳相處狀況曝光 林志玲:我是灰姑娘|#鏡新聞鏡新聞76,913 次觀看・1 天前
- 1:09《淚之女王》即將大結局!預告搶先看 金秀賢一句話讓金智媛瞬間愣住了娛樂星聞6,251 次觀看・1 天前
- 1:39世界第一台獲認證飛行車AirCar 喜迎首名乘客 將在中國生產 售價1629萬起Yahoo奇摩(國際通)5,372 次觀看・5 小時前
- 1:446歲女童站機車踏板出門 車禍釀脾臟破裂內出血|#鏡新聞鏡新聞38,648 次觀看・1 天前
- 1:56新北議會衝突!陳明義兒2022選同區 早與蔣根煌結樑子民視影音99,776 次觀看・2 天前
- 2:44北京電動車展登場 中國品牌「內卷」大戰 117款新車首度亮相Yahoo奇摩(國際通)8,699 次觀看・9 小時前
熱門必看
- 12:45心理測驗:你愛上同性的機率?唐老師一時口誤節目差點變18禁!?Ep.215-2唐綺陽談星室31,263 次觀看・3 天前
- 14:25昏暗老公寓化身質感美宅 空間感、採光起死回生簡直魔法Yahoo創作摩人7,034 次觀看・2 天前
- 0:18傳承老一輩甜品作法,最純粹的美味!板橋Edenx食旅22,759 次觀看・3 天前
- 16:22『橫濱一日遊』帥爆!見鋼彈最後一面!人也排到爆的橫濱家系拉麵!生日圓夢之旅最終章!戴妮塔 Nita & Dai's Daily4,619 次觀看・14 小時前
- 31:57【日本自由行】大阪→廣島5天4夜完整攻略🤩萬博紀念公園、姬路城、嚴島神社、和平紀念公園、廣島紙鶴塔、岡山倉敷美觀、大倉酒店、八天堂|日本旅遊・Japan 4K vlog吉田社長交朋友15,148 次觀看・4 天前