of england governor say, to be i of england governor say, to be truthful with the public, that is what he was saying, to be truthful with the public, you have got to be saying that taxes will have to go up if we want to enjoy the kind of standards we have right now. we need that obr report standards we have right now. we need that obr report so standards we have right now. we need that obr report so we standards we have right now. we need that obr report so we know standards we have right now. we need that obr report so we know the i that obr report so we know the extent of the damage. that obr report so we know the extent of the damage. from the independent extent of the damage. from the independent budget extent of the damage. from the independent budget watchdog. l extent of the damage. from the - independent budget watchdog. whoever comes in as prime independent budget watchdog. whoever comes in as prime a independent budget watchdog. whoever comes in as prime a lis
just six weeks ago. a plan for a low tax, low regulation, high growth britain by liberated by brexit. with the phrase and its policies now on the scrapheap, our business editor simonjack takes a look back at the rapid rise and fall of trussonomics. can we afford these tax cuts, chancellor? the road to liz truss demise arguably started here the not so mini budget that she and her chancellor announced with great fanfare. and i commend it to the house. trussonomics massive tax cuts, lighter regulation equals higher growth. but there was a problem there was no explanation of how £45 billion in tax cuts would be paid for, and no analysis from the budget watchdog as to whether the sums added up. but the chancellor was defiant, and promised more giveaways over that weekend. there s more to come. we ve only been here 19 days. i want to see, over the next year, people retain more of their income. the financial markets
arguably started here. not so many budget that she and her chancellor announced with great fanfare. they promised £16 billion worth of growth boosting tax cuts, but there was a problem. there was no explanation of how it would be paid for and no analysis from the budget watchdog as to whether the sums add up. but the chancellor was defiant and promised more giveaways over that weekend. there is more to come. we have only been here 19 days. i want to see over the next year people retain more of their income. the financial markets didn t more of their income. the financial markets didn t like more of their income. the financial markets didn t like it, more of their income. the financial markets didn t like it, they - more of their income. the financialj markets didn t like it, they thought it showed a reckless approach to the public finances. the pound fell to its lowest level in history against the dollar. the cost of government borrowing rose so quickly, the bank of england had
things, with the pound rising against the dollar. our business editor simonjack has the details. the road to liz truss s demise arguably started here. a not so mini budget that she and her chancellor announced with great fanfare. trussonomics. fight night but there was a problem. but there was a problem. they promised £16 billion worth of growth boosting tax cuts, but there was a problem. there was no explanation of how it would be paid for and no analysis from the budget watchdog as to whether the sums add up. but the chancellor was defiant and promised more giveaways over that weekend. there is more to come. we have only been here 19 days. i want to see over the next year people retain more of their income. the financial markets didn t like it one bit they thought it showed a reckless approach to the public finances. the pound, already weak, fell to its lowest level in history against the dollar. the cost of government borrowing rose so quickly, the bank
provided shortly rather than november the 23rd, which is when we had been expecting for that wild that date is to be confirmed it could come the bbc s economic adviser estate could occur this month. after that the office for budget responsibility told the treasury it could complete its deliberations any faster time frames in other words, it doesn t need to wait until the end of november, it can bring forward its deliberations more quickly. the office for budget responsibility will cost all the policies announced by the chancellor and provide new numbers for borrowing. the budget watchdog known as the opr will also castjudgment on the governments claimed that its raft of reform policies will boost growth in the economy which you will remember is the justification for all the financial plans the government has announced in the last ten days or so. the numbers will set