Devolved governments leaders have demanded an urgent meeting with chancellor Kwasi Kwarteng over his “disastrous” mini-Budget and fears of new age of austerity.
The finance ministers of Scotland, Wales and Northern Ireland warned that the Liz Truss government’s “huge gamble” on borrowing-fuelled tax cuts will mean a decade of spending cuts.
In a joint letter they shared their alarm over reports that all government departments would be asked to make cuts – pointing out that devolved budget settlements have already been diminished by inflation.
It comes as prime minister Liz Truss has said that her economic plan involves “disruption in the short term” as the Welsh secretary said “rigorous” spending cuts are imminent.
Her comments come as the S&P ratings on the UK changed their outlook from stable to negative on Friday.
Writing in The Sun, Ms Truss admitted that “not everyone will like what we are doing” but “we need to get things done in this country more quickly”.
