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
we have just seen the back of one tory prime ministerfor we have just seen the back of one tory prime minister for trampling over standards in public life only to be replaced by another who in only a0 days has failed to meet some of the basic principles. i would love to ask herself about it but then she is not here i will ask the leader of the house. is it leadership to sack the chancellor for doing exactly what he was asked to do? is it objectivity to refuse to do? is it objectivity to refuse to allow that we experts to assess the so called mini budget and does she agree that the first test of accountability is to actually show up? i would suggest it is leadership to take tough decisions in the national interest even though there may be they need you personally and politically difficult to take. mr politically difficult to take. m speaker, the party opposite stood on a manifesto that would have inflicted the highest tax burden on my constituents, so does my right honourable friend