Kate Andrews Kate Andrews

Liz Truss’s mea culpa moment

The Prime Minister has realised that her battle with the OBR was a fight too far


The fallout from last Friday’s mini-Budget has been bigger and more volatile than almost anyone expected, with sterling hitting an all-time low against the dollar; runaway gilt yields; a U-turn from the Bank of England on its plans to start quantitative tightening. And that was all by Wednesday lunchtime.

Will things be looking up anytime soon? The pound has recovered to pre-mini-Budget levels, hovering around $1.11,

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