UK economy latest news: Highest ever fall in mortgage deals over last 24 hours - as White House urges UK to show 'fiscal discipline'
Cost of living and economy latest as the Bank of England launches a major intervention, buying government debt to try to steady the economy; the International Monetary Fund hits out at the chancellor's mini-budget; and the UK sees its biggest ever drop in mortgage deals.
Britain in Economic Free Fall
Britain is today in unprecedented financial chaos and it is all because of Kami Kasi Kwasi , Thick Lizzy’s closest “friend”.
UK economy latest news: Highest ever fall in mortgage deals over last 24 hours - as White House urges UK to show 'fiscal discipline'
Cost of living and economy latest as the Bank of England launches a major intervention, buying government debt to try to steady the economy; the International Monetary Fund hits out at the chancellor's mini-budget; and the UK sees its biggest ever drop in mortgage deals. IMF warns UK against mini-budget that will 'likely increase inequality'
The IMF also recommended against fiscal policies not targeted towards specific groups, saying that the plans as they are will benefit the rich rather than those who really need help. https://news.sky.com/story/imf-warns-uk-against-mini-budget-that-will-likely-increase-inequality-12706612
Opposition parties want Parliament recalled. After their longest summer vacation, with government not held to account. Keir Starmer calls for recall of parliament over economic crisis
The Labour leader called on the government to abandon its mini-budget "before any more damage is done", after the Bank of England made an intervention described by Sky's economics editor Ed Conway as "almost unthinkable". 'Abandon' mini-budget 'before more damage is done', Keir Starmer urges; 'growing movement' for Chancellor Kwasi Kwarteng to step down https://news.sky.com/story/keir-starmer-calls-for-recall-of-parliament-over-economic-crisis-12706923
HM Government try to blame an “international situation”, but the problem is UK ONLY, with pension funds suddenly at risk and the Bank of England having to taken emergency intervention measures. 'There's a lot of concern': Treasury Committee Chair agrees emergency Bank response is due to Chancellor's mini-budget
The Bank of England launched a temporary bond-buying programme as it takes emergency action to prevent 'material risk' to UK financial stability. "The party should be really uniting at this time of economic crisis.", Chair of the Treasury Select Committee told Sky News. https://news.sky.com/video/theres-a-lot-of-concern-treasury-committee-chair-agrees-emergency-bank-response-is-due-to-chancellors-mini-budget-12706914
Bank of England launches bond-buying programme to prevent 'material risk' to UK financial stability
News of the bank's action, aimed at "restoring orderly market conditions", had an immediate impact on the rates demanded by investors to hold UK government debt.
https://news.sky.com/story/bank-of-england-takes-action-to-restore-orderly-market-conditions-after-mini-budget-panic-12706827
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