Thursday's front page: Cuts warning as Sunak rips up Truss growth plan TomorrowsPapersToday Latest by HugoGye RichardVaughan1:
The OBR finalises its forecasts two to three weeks ahead of a fiscal event – so if the Chancellor’s statement had gone ahead on 31 October as planned, it would have been based on calculations made when Ms Truss’s Government was embroiled in turmoil. Instead, it will now rely on forecasts made after calm returned to financial markets.
Treasury officials believe that the arrival in office of both Mr Hunt and Mr Sunak has helped reassure global investors, bringing down the cost of Government borrowing and expectations of future interest rate rises. Long-awaited legislation to regulate the internet has been delayed again after ministers pulled the Online Safety Bill from the Government timetable. The decision comes just weeks after an inquest into the suicide of 14-year-old Molly Russell ruled that online content contributed to her decision to take her own life.
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