Ahead of mini-budget, concerns mount over precarious financial position sparking run on sterling
Britain’s mounting debts will be unsustainable if the government presses ahead with sweeping tax cuts in a mini-budget on Friday, according to a taxation and spending watchdog, the Institute for Fiscal Studies.
Fuelling concerns that the UK’s precarious financial position will spark a run on the pound, the chancellor, Kwasi Kwarteng, is expected to reverse a hike in national insurance payments and cut corporation tax at a cost of £30bn to the Treasury.
