Jeremy Hunt statement: Mini-budget U-turn expected in chancellor’s fiscal announcement - how to watch
Chancellor Jeremy Hunt is due to make a statement today, potentially including more mini-budget U-turns - here’s how to watch
The Chancellor will be making a statement this morning in the hope of settling turmoil in the markets following the financial fall-out of the Government's mini-budget.
At least one more U-turn is expected from Kwasi Kwarteng's original plan announced on September 23, as Jeremy Hunt brings forward measures from his Medium-Term Fiscal Plan to “support fiscal sustainability”.
In a very short press conference on Friday Prime Minister Liz Truss backtracked on the scrapping of the 45p top rate income tax and reinstated a planned increase in corporation tax, saying the mini-budget "went further and faster than markets were expecting".
It is hoped today's statement will stabalise the economy which has recently seen the value of the pound slump to a record low of $1.03, the Bank of England bail out pension funds and spiralling mortgage rates.
How to watch Jeremy Hunt's statement live
Jeremy Hunt will be making his announcement at 11am before making a statement to the House of Commons at around 3.30pm this afternoon.
Mr Hunt will then deliver the full Medium-Term Fiscal Plan to be published alongside a forecast from the independent Office for Budget Responsibility on 31 October.
There will be a live broadcast of both the 11am media statement and 3.30pm Commons statement on both BBC News and Sky News.
You can also watch Jeremy Hunt addressing the House of Commons online on Parliament TV at 3.30pm.