britain s new prime minister, rishi sunak, has moved into number ten and spent most of the day appointing senior members of the government. on arriving in downing street tuesday, he said the uk was facing a profound economic crisis , and made a point of saying that he d repair the damage caused by some of the policies of his predecessor liz truss. i will place economic stability and confident at the heart of this government s agenda. this will mean difficult decisions to come. he also named his new cabinet. there are a lot of changes butjeremy hunt will stay in the key post as chancellor. he was appointed just a few weeks ago after the failed mini budget. on monday, jeremy hunt is due to deliver a much anticipated statement on the government s tax and spending plans, along with analysis from the office for budget responsibility. joining me now is melanie baker senior uk economist at royal london asset management. there are some rumours that this fiscal event on 31 october
pace not seen more than three decades ago- decades ago. higher cost with basic goods decades ago. higher cost with basic goods such decades ago. higher cost with basic goods such as decades ago. higher cost with basic goods such as petrol, i basic goods such as petrol, food and construction materials driving inflation higher and that means everyone is being affected, from consumers to businesses and also of course the government s spending plans. the labor government of prime minister albanese unveiled its budget earlier this week and the analyst we have been talking to say it is a lot more cautious than the budgets of his predecessor. this is a very different budget from this is a very different budget from what we saw back in march, when from what we saw back in march, when we from what we saw back in march, when we did see if the outgoing prime when we did see if the outgoing prime minister scott morrison offering prime minister scott morrison offering some relief