The cabinet meeting this morning has finished.
He said there were"optimistic signs" that inflation would fall, pointing to the Bank of England's forecast that inflation could perhaps be back down by 2024. In the video, chancellor Jeremy Hunt said:"Today we are having to take some difficult decisions to restore stability, bring inflation down and balance the nation's books.
Speaking to Sky's Kay Burley this morning, the MP for West Worcestershire said she welcomed the fact that the Autumn Statement was going to come along with an Office for Budget Responsibility forecast. "It will help to reassure the markets that there's someone marking the chancellor's homework published at the same time."
She went on to say:"We also need to reflect on the fact that this is Putin weaponising the cost of energy against the British economy. Labour has said the UK will be stuck in a"Conservative doom loop" if it does not get out of a"pattern of low growth". "We are the only G7 country that hasn't recovered its pre-COVID economic position yet, and that longer-term weakness is actually the more fundamental backdrop to some of the decisions that we're going to hear today.
Chancellor Jeremy Hunt is set to outline how he will fill the"black hole" in the public finances later today. Torsten Bell, the chief executive of the Resolution Foundation thinktank, told Sky News he expects the OBR outlook to be"grim". "So pretty grim economic outlook in the face of that, being told that, yes, you'll get some energy support in the short term, but in the longer term, it's tax rises and spending cuts."
Ianblackford_MP Shetland and Orkney will never surrender to the tyrannical rule of the Scottish. If you make the disastrous decision to go it alone, Orkney and Shetland will stay with England.
Ianblackford_MP Scotchland doing great under the separatist ?
Ianblackford_MP ‘Perilous’
EdConwaySky This is austerity 2, the austerity to end all austerities and it will be over by Christmas 2030
EdConwaySky brexit the gift that keeps on giving
EdConwaySky I'd be outraged if I were English 😮 IndyRef2
EdConwaySky What total idiocy from Sky 'News': The Black Hole was caused by years of miss mismanagemnt, over spending and money printing (including by Rishi Sunak as Chancellor through the Condemic) - certainly not from KK's 10 minutes in charge.
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