there is the wreck of the mary rose. it has come to the surface. and it s exactly a0 years since henry 8th s flagship the mary rose was raised from the bottom of the solent, after 437 years under the sea. the bank of england has been forced to intervene once again in the markets warning of a material risk to financial stability. the emergency move this morning will see the bank buy a wider range of government debt, in order to restore conditions in the markets. it follows on from yesterday s announcement of further meaures aimed at ensuring an orderly end to its emergency bond buying scheme. today the institute for fiscal studies think tank warnted the chancellor will need to make big and painful spending cuts to put the country s finances on a sustainable path. it suggests the chancellor could increase working age benefits in line with average earnings, limit public investment to 2% of national income and cut the budgets of every government department except he
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kwarteng s plan will be absolutely crucial but the mere announcement of bringing it forward and giving people a hint, an attempt to balance the books over time, tissue and demonstrate how public expenditure will be brought under control, despite the tax cuts, that not been enough to put perhaps the economic ship back on an even keel. kwasi kwarten: ship back on an even keel. kwasi kwarteng will ship back on an even keel. kwasi kwarteng will take ship back on an even keel. kwasi kwarteng will take questions - ship back on an even keel. kwasil kwarteng will take questions from mps today for the first time. what sort of reception as he likely to receive and what does he need to say? i receive and what does he need to sa ? ~ , receive and what does he need to sa ? ~ , ., u, say? i thinking needs to calm nerves, especially say? i thinking needs to calm nerves, especially on - say? i thinking needs to calm nerves, especially on his - say? i thinking needs to calm nerves, especially on
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