The Latest Breaking News from Andrew Bailey

Andrew Bailey says UK borrowers can expect to feel impact of Truss government’s tax and spending decisions

London (AFP) - Britain's new finance minister Jeremy Hunt warned Saturday of looming tax hikes as he dramatically reversed course on right-wing Prime Minister Liz Truss's radical programme of economic reform.

Liz Truss scrapped her plan to freeze corporation tax next year in another dramatic U-turn, hours after she fired her ally Kwasi Kwarteng and replaced him with Jeremy Hunt as UK Chancellor of the Exchequer.

U.K. Prime Minister Liz Truss fired Chancellor of the Exchequer Kwasi Kwarteng and replaced him with former Foreign Secretary Jeremy Hunt as she prepared to make a humiliating U-turn on parts of her economic plan.

In today’s newsletter: Today the UK central bank is due to end its rare, urgent bond-buying to help stabilise the economy – but why, and what does it mean for you?

Chancellor Kwasi Kwarteng is cutting short a trip to Washington, to fly home and tackle the financial chaos caused from his mini-budget with pressure growing on him and Prime Minister Liz Truss

Washington (AFP) - Britain has had its knuckles rapped over its controversial debt-fueled budget at the IMF's annual meetings, with the crisis lender's chief urging London on Thursday to maintain "coherent and consistent" policies.

It was the government that started this fire – but the Bank is proving to be a poor firefighter, says economist Duncan Weldon

Andrew Bailey’s tough stance fuels the danger that ending one form of emergency intervention creates a need for a bigger one