announced by his predecessor, kwasi kwarteng, in last month s mini budgetjust three weeks ago. in an emergency statement this morning, he abandoned indefinitely the planned ip cut in the basic income tax that was due to come next year. help with energy bills will now only last until next april. instead of for two years, and then that will be reviewed. today, jeremy hunt claimed all of those announcements will save £32 billion a year, but he also warned that there are going to be more difficult decisions ahead on tax and spending to cut government debt. he will be addressing mps in the commons later this afternoon, some time after lipm. before then, there will be an urgent question in there will be an urgent question in the commons asked by sir keir starmer. it will not be liz truss responding to that, it will instead be penny mordaunt. so plenty ahead in the commons. in terms of the market reaction, jeremy hunt said that he had sought to reassure the markets this morning and
that, with regret, she is not here for a very good reason. but neither had she taken this decision to win the honourable lady s gratitude. she has done it out of a sense of duty because she knows what is in the national interest. figs because she knows what is in the national interest. national interest. as my right honourable national interest. as my right honourable friend national interest. as my right honourable friend said, - national interest. as my right honourable friend said, it - national interest. as my right honourable friend said, it will national interest. as my right - honourable friend said, it will have been a difficult decision for the prime minister, both politically and also personally, i said my friend from spelthorne. that is what it is important we provide economics ability forfamilies, businesses important we provide economics ability for families, businesses and constituencies like mine and across the country and we have already seen that this morning for