Joe Biden said the UK’s economic turmoil “was predictable” and that he disagreed with the policy of “cutting taxes for the super-wealthy”
During a visit to an ice cream shop in Portland, Mr Biden told reporters: “It was predictable.. I wasn't the only one who thought it was a mistake.. the idea of cutting taxes for the super-wealthy.. at a time when...“
New Chancellor Jeremy Hunt, brought in to replace the sacked Kwasi Kwarteng and to restore credibility to Downing Street, spent Saturday effectively trashing the mini-budget and the set of policies that brought Ms Truss to power. "The drive on growing the economy is right - it means more people can get good jobs, new businesses can thrive and we can secure world class public services. But we went too far, too fast," he said.
As Mr Hunt begins his job of putting together a fresh budget for October 31 one possible plan, as reported in the Sunday Times, would be to delay his predecessor's aim of reducing the basic rate of income tax by a year as part of a wider package designed to calm the financial markets.
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