struggling with symptoms. let s start here in the uk, where the new chancellorjeremy hunt has ditched almost all of prime minister liz truss tax cuts announced in the government s mini budget three weeks ago. the financial markets reacted positively to the news, with the pound rising against the us dollar and uk gilts falling. in total £32 billion of the £45 billion in tax cuts have been shelved, these include. the planned 1p cut in the basic rate of income tax is now on hold indefinitely, with the rate remaining at 20%. the cap on energy prices charged to households is now only guaranteed until april next year. for a typical household, it means an annual bill will not rise above £2,500 for the next six months. but plans to cancel the 1.25% increase in national insurance contributions will still go ahead, along with a reduction in stamp duty, and the cap on bankers bonuses will still be scrapped. joining me now is chris southworth, who s the secretary general of the uk i
economy at a business school in singapore and he said he was very surprised at the delay. this is a very rare event. almost all governments, even in the midst of war, financial crisis, health shocks, they always release gdp statistics. sojust keep in mind, even at the height of covid, the chinese government was putting out all of these gdp retail sales statistics. so my only guess is that those numbers were not very good, and would not lead to the objective of doubling the chinese economy in the time span that president xi announced. that growth target was the 5.5 gdp growth target. most analysts agree it is pretty much long gone, references to that which dropped a few months ago in china. we are expecting ago in china. we are expecting a raft of other figures, as well, but given how carefully calibrated everything is, how deliberately chosen the language is at these national party congresses, anything that comes out, whether good or bad