TagKwarteng

Kwarteng’s tax cuts will force ‘significant’ interest rate rises by Bank of England

By Marta Lopez
In Finance
3 Min Read
K

A senior Bank of England official has warned “significant” increases in interest rates will have to be imposed by the central bank in response to tax cuts put forward by Kwasi Kwarteng in his mini-budget. The Bank’s chief economist, Huw Pill, said the chancellor’s planned tax cuts would act as a stimulus and increase inflationary pressures, with the result that interest rates would need to go...

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Kwarteng tells City bosses his economic plan ‘will work’

By Marta Lopez
In Finance
4 Min Read
K

Kwasi Kwarteng has insisted in a meeting with Britain’s top City bosses on Tuesday that the government’s economic strategy “will work”, despite a market meltdown that sent sterling to record lows a day earlier. The chancellor issued the assurances during a planned meeting with asset managers, pension funds and insurers from big firms, including Aviva, Legal and General, Royal London, BlackRock...

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