Jeremy Hunt

2022 - 10 - 15

Post cover — Image courtesy of "BBC News"

Who is in charge? Liz Truss or Jeremy Hunt? (BBC News)

The new chancellor has junked the prime minister's economic strategy in 24 hours, writes Laura Kuenssberg.

One former minister said there had been a "total seepage of power and authority" and she is on her way out in either weeks or months. Believe the polls and Ms Truss' start in office has been an epic disaster from which it is hard to see a return. Boris Johnson and Theresa May survived far, far longer than many of their colleagues had hoped. But that arithmetic won't be pretty - public spending cuts are on the way and taxes could rise too. And yet, very often, it does. But has she killed off what political authority she had left and handed it to someone else?

If Jeremy Hunt is to be Truss's saviour, he needs more than austerity ... (The Guardian)

Tax-cut U-turns won't be enough to balance the books, so the new chancellor will look at cutting public service budgets. But there is an alternative.

There is a way out for Hunt, at least in the short term. The health service, social care, the defence budget and education were going to be protected under Sunak’s tax raising plans. This would protect disabled people and others who might lose out under such a scheme. Jeremy Hunt is unlikely to give his name to a new economic model or ground-breaking method of boosting growth. [Kwasi Kwarteng](https://www.theguardian.com/politics/kwasi-kwarteng) in his mini-budget, will go ahead as the first of many policy U-turns to be announced in a full-scale budget a fortnight tomorrow. [Office for Budget Responsibility](https://www.theguardian.com/business/office-for-budget-responsibility), the Treasury’s independent forecaster, will want to see a much larger shift in policy to close a £60bn gap in public spending that has opened up since it last judged the government’s finances back in March.

London politics latest LIVE: New Chancellor Jeremy Hunt defends ... (Evening Standard)

Liz Truss sacked Kwasi Kwarteng after 38 days in the role as Chancellor.

But asked if he now has a “clean slate” on the mini-budget and if he could change elements of the plan, Mr Hunt said: “Yes. He told Sky News: “We will have some very difficult decisions ahead. Tweeting on Saturday morning, Mr Redwood said: “You cannot tax your way to higher growth. So it’s going to be difficult. But as we take those difficult decisions, my priority, our values as a Government, will be to protect families, businesses, who are going through a very challenging time.” The call was reportedly poorly attended.

Jeremy Hunt says difficult decisions ahead after Truss 'mistakes' (The Guardian)

New chancellor vows to be 'completely honest with country' amid rumours PM has only weeks left in role.

But we are talking about very difficult decisions in budgets where there is already a great deal of pressure.” Hunt, twice a Tory leadership contender and a former foreign secretary, said: “We will have some very difficult decisions ahead. Some taxes will go up … It was a mistake, when we’re going to be asking for difficult decisions across the board on tax and spending, to cut the rate of tax paid by the very wealthiest. “It was a mistake to fly blind and to do these forecasts without giving people the confidence of the Office for [replacing Kwasi Kwarteng](https://www.theguardian.com/politics/2022/oct/14/jeremy-hunt-chancellor-surprising-return) on Friday, the former health secretary signalled he would have a “clean slate” when it came to the budget, and vowed to be “completely honest with the country” amid rumours that Truss has only weeks left as prime minister.

Jeremy Hunt warns of spending cuts in bid to restore UK economic ... (Financial Times)