'There were some mistakes made in the last few weeks, that's why I'm sitting here' Chancellor Jeremy Hunt says mistakes have been 'addressed' and the UK government aims to 'create growth with stability'
David Lammy at the Labour Party conference in SeptemberShadow foreign secretary David Lammy has just been speaking to BBC Breakfast.
The Labour MP said the prime minister has not"stabilised the ship" by sacking Kwasi Kwarteng because"everyone knows this was her mini-budget"."This was a crisis made in No 10 by Liz Truss. It's unprecedented for a G7 nation to have a run on its currency, to have yields up, to have changes in fiscal policy overnight and to have four chancellors of the exchequer over the last four months.
Lammy was referring to yields on gilts, or government bonds, which have risen as a consequence of global factors - such as the war in Ukraine - and in response to September's mini-budget. The higher the yield, the higher the cost of government borrowing. He described the PM as being in"absolute chaos", and says the country can't keep"playing pass the parcel" with who is running the Conservative Party and the country.“When people are looking for credibility when they’re looking for and stability, they don’t get that from Liz Truss."
Asked whether new chancellor Jeremy Hunt can provide stability, Lammy said:"Jeremy Hunt in his campaign was calling for even deeper unfunded tax cuts."
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