The full budget plan will be presented at the end of the month.
London, Thanasis Gavos
Announcements on economic and budgetary measures will be made within the day by new UK Chancellor of the Exchequer Jeremy Huntin an effort to calm the markets.
As announced by the Ministry of Finance, Mr. Hunt is accelerating for today “measures from the Medium-term Fiscal Plan” that his predecessor Quasi Kwarteng originally planned for the end of November and then for October 31st.
However, the full budget plan will indeed be presented at the end of the month.
Jeremy Hunt was handed the keys to the Treasury by Prime Minister Liz Truss after Kwarteng was sacked on Friday, with the new minister saying at the weekend he was not ruling out a reversal of measures announced by his predecessor three weeks ago. the controversial mini-budget.
Ms. Trass has already withdrawn the abolition of the top income tax rate of 25% and the central measure of the mini-budget to cancel the planned increase in the corporate tax rate from 19% to 25% in April.
Mr Hunt is also expected to announce a one-year delay in cutting the basic rate of income tax from 20% to 19%.
The reversal of the Truss government’s economic measures forced Mr Hunt to give assurances at the weekend that the Prime Minister was still in control. The blunders and backslidings, however, have made it clear that Ms Truss’s chair is dangerously creaking, with Conservative MPs now publicly questioning her and many plotting her ouster.
The deputies Crispin Blunt, Andrew Bridgen and Jamie Wallis became on Sunday the first three to express a clear position in favor of the departure of Liz Truss from the prime ministership.
“The game is over and now it’s a question of how the succession is going to be managed,” said Mr Blunt, a former head of parliament’s foreign affairs committee. Mr Bridgen blogged that “Liz has sunk her leadership” and has “run out of friends”. And Mr. Wallis published his letter to the Prime Minister in which he calls on her to resign as she has lost the confidence of the country and her parliamentary group.
According to the Daily Mail, at least 100 Tory MPs are ready to submit letters of no confidence against the Prime Minister to the relevant party body, the 1922 Commission. In this way they would try to push for a change in the rules that do not allow impeachment proceedings against the leader of the Tories in the first 12 months of taking the leadership.
The Times reports that the chairman of the 1922 Committee, Sir Graham Brady, who has arrived from a holiday in Greece, will meet Ms Truss later in the day, presumably to convey to her the extent of the caucus’s displeasure.
Other MPs are said to be drawing up a plan to replace Liz Truss with a call for her to step down and a ‘unity’ successor to be ‘crown’, with names understood to be former Chancellor of the Exchequer Rishi Sunak, who was beaten in the race to succeed Boris Johnson by Truss , Defense Secretary Ben Wallace and Jeremy Hunt.
The main opposition Labor leader Sir Keir Starmer demanded that the Prime Minister appear in Parliament today to answer questions about the consequences of her economic policies. The opposition is now united and calls for early elections.
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