'So it looks like we have a nurses strike on our hands?' - KayBurley Deputy PM theresecoffey says the govt has honoured the independent pay review body's recommendations and is not anticipating any further changes Latest 👉 📺 Sky 501 and YouTube
The Bank of England has announced a second intervention in the government debt markets in 24 hours.
It is the second statement the Bank has made in two days - and the third since the government's mini-budget.Asked how the government would make up the £60bn black hole predicted by the Institute for Fiscal Studies, Ms Coffey said she would not be getting into"hypotheticals", and that the government's plan was to grow the economy.
"But they have also issued a call to Tory MPs to say that it's vital they speak up for constituents and also make their views about the mini-budget public, and to work with Labour in putting pressure on the government to change direction." "We need stability for our economy now and a real plan for growth that only a Labour government will bring. It will be up to Labour to clean up the mess of the Conservatives once again."The government's mini-budget has left it facing such a large black hole in the public finances that the most credible way of filling it is severe spending cuts similar to the kinds imposed during the austerity years a decade ago, according to an authoritative new report.
It said the Office for Budget Responsibility , the government's in-house forecaster, was unlikely to assume at the end of the month that the measures in Kwasi Kwarteng's mini-budget would boost the country's long-term growth prospects.