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What is in the new chancellor's in-tray?
The new chancellor, Kwasi Kwarteng, should use Truss’s planned ‘fiscal event’ to be honest about difficult choices on tax and spending beyond this win
Departmental budgets
Which government departments spend the most?
Current UK fiscal rules
What are the government’s current fiscal rules and is it on track to meet them?
Fiscal rules in the UK since 1997
Fiscal rules are restrictions on fiscal policy set by a government to constrain its own decisions on spending and taxes.
Blocking OBR forecasts undermines the credibility of Liz Truss’s economic plans
The new prime minister and chancellor should stand up for the Official for Budget Responsibility instead of blocking the publication of its forecasts
Kwasi Kwarteng’s new era of economic policy is a major gamble
On tax in particular, the chancellor has chosen cuts to headline rates rather than grasping the nettle on big tax reform.
Liz Truss is breaking with more than ‘economic orthodoxy’
Liz Truss' approach to government also reflects a change from accepted norms of good government
Kwarteng and Truss show the perils of disregarding economic institutions
Liz Truss and Kwasi Kwarteng must respond to their miscalculations by recognising that the UK’s economic institutions are vital national assets