Hunt bins ‘Trussonomics’ as BoE warns of rate pain

The new chancellor Jeremy Hunt has told Sky News there "were mistakes" in Liz Truss and Kwasi Kwarteng's mini-budget.

In a sign that the previous economic approach is being halted, Mr Hunt said there could be tax rises as part of his fiscal roadmap.

Meanwhile, Bank of England governor Andrew Bailey has said that interest rates may need to be raised higher than expected to tackle inflation.

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