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Truss Holds Talks With UK Watchdog Amid Tax Cuts Fallout (1)

Sept. 30, 2022, 9:39 AM

Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng are holding talks Friday with the UK government’s fiscal watchdog, amid intense criticism over their unfunded tax cuts that roiled markets.

The new administration opted to announce the largest package of tax cuts in half a century last Friday without analysis by the Office for Budget Responsibility, and Kwarteng is not planning to set out how he will pay for his plans until Nov. 23. That decision was taken because some policies that needed to be factored in by the watchdog were not ready to be announced, City Minister ...