Jeremy Hunt went to parliament on Monday to bury Trussonomics, not to praise it.
In a knifing fit for Shakespeare’s Julius Caesar, the new chancellor vanquished the rightwing “mini” Budget that Liz Truss had used to put forward ￡45bn of unfunded tax cuts.
Hunt reversed most of the prime minister’s tax cuts that were meant to boost UK economic growth. He also signalled plans for tax increases and public spending cuts in his fiscal statement due on October 31 as he sought to reassure financial markets that the government was serious about balancing the books and cutting debt.
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