🗣️ Kwasi Kwarteng: I promise to bring spending under control

The Chancellor vows to publish a ‘credible’ November plan for getting debt falling that will convince the markets

Thread:
telegraph.co.uk/politics/2022/…

Kwasi Kwarteng has promised to make a new “commitment” to bring public spending under control following a week of financial turmoil

✍️ Writing in The Telegraph, the Chancellor vows to publish a “credible” plan in November for getting debt falling that will convince the markets

telegraph.co.uk/politics/2022/…

Mr Kwarteng also doubles down on his mini-Budget, saying while some measures may not be universally popular “we had no other choice”

🗓️ The Chancellor describes a November 23 statement on the Government’s longer-term financial plans as “so important”.
He says the statement will contain a “commitment to spending discipline”

telegraph.co.uk/politics/2022/…

Treasury sources declined to reveal details of the new commitment on Friday night, but it is likely to lead to cuts in some areas as inflation squeezes department budgets, reports Ben Riley-Smith

🗣️ The announcement is the latest move from the Government designed to reassure the markets that the new growth agenda is not a threat to the public finances