of the bank and attempt to blame it for letting inflation rise so much when clearly that is mainly driven by what is happening in ukraine, sacking tom scholar, the permanent secretary of the treasury on the new chancellor s first day sent a very bad signal. and finally, obviously, not publishing the 0br assessment alongside the mini budget last week was treated badly by the markets. i think it is worth saying that if all last friday had contained was basically the details of the energy price guarantee and some commentary about the general direction of the government s thinking about reigniting growth, the reception probably would have been a lot better. although the energy price guarantee
credibility in the uk is finances. the difficulty is there are no easy cuts to spending available, you are either looking at cuts to belt benefits, to working age benefit recipients, pensions, public services, cutting back on things like capital spending which may well be good for growth. some honesty, transparency about what those options are, what chance to take rather than assuming all the difficult choices away. this government needs to make sure they have a serious and economic responsibility. energy prices will rise for millions of households on saturday. let s talk to holly mackay, ceo and founder of boring money. it s really important to keep saying this thing of £2500 being the
of polls, but clearly under those circumstances it is a cause for huge concern and conservative parliamentarians at the moment are very anxious about things. this brings me back to the earlier discussion, the keys to moving forward are two things for the conservative party. 0ne forward are two things for the conservative party. one is to reassure the markets and get a credible fiscal plan out there, that the 0br signs off on and we can get back to some sound economics. the second thing is not to panic ourselves into political disunity. so the conservative parliamentary party needs to unite in a positive way, await developments and throw ourselves into a mission of growing the economy, and that is something that can happen across all departments in government. that internal audience, departments in government. that internal audience, the conservative party for liz truss, over coming days, how crucial is it that she reassures that audience, that she hits all the right notes? i reassure
obviously it is coming after what they have announced they are going to be doing in terms of big spending plans. the analysis now is going to be different now from what it would have been if it had come prior to the announcement because the economic picture has changed, interest rates have changed. this is all about the interest rates have changed. this is all about the government interest rates have changed. this is all about the government trying i interest rates have changed. this is all about the government trying to l all about the government trying to reassure the markets. its reassurance to the markets of saying hold on, we will give you a bit more detail next week, we can break it down about when you were expecting all of these forecasts to come. that reassurance about independence from the government than themselves talking about the importance of them being independent, that is really what gives it some level of credibility because the markets can then trust that the 0pr
that the fact that the prime minister and the chancellor were meeting face to face could suggest they were leaning on the 0pr. that is something that the government is very clearly saying is not the case, they will be looking at the figures and giving their own independent judgment on it. mcmichael what has happened in the last week since that mini budget was announced last week. the pound went down and has now gone back up to where it was before the mini budget. is that steadying because of the report? it is difficult to know. it s gone back up to around one dollar and 12 cents. that s possibly a positive sign but at the same time it s difficult. we shouldn t read too much into it, because there s still a lot of volatility in the market. a lot of economists are saying the underlying are still there, there is uncertainty about how these numbers are going to add up, what are the plans the chancellor will put in