Chancellor Kwasi Kwarteng has cut short his US trip and has flown back to London 🔴 His early departure comes as another major U-turn on his tax-slashing mini-Budget is expected in a bid to calm turmoil on financial markets
He added: “On corporation tax, we wanted to keep that very, very competitive, and that’s something that we think is a great idea. I speak to the Prime Minister constantly about measures that will help economic growth, and that’s what we’ve been focused on.”
The Bank of England’s emergency bond-buying scheme is due to come to an end today, with financiers braced for a crunch day on the markets. It came after the central bank’s Governor Andrew Bailey spooked the markets on Tuesday by insisting that the emergency support would not be extended beyond today, as he warned funds: “You’ve got three days left now. You’ve got to get this done.”
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