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World

Has Hunt restored the government’s fiscal credibility?

18 October 2022

4:23 AM

18 October 2022

4:23 AM

Jeremy Hunt set out at the start of the weekend with one goal in mind: that when the gilt markets reopened on Monday, the cost of government borrowing would not surge further. Ideally, it would start to fall.

In this sense, it’s been a successful day for the new Chancellor. The Treasury’s early morning update that a major fiscal announcement was about to be announced saw gilt yields start to drop when markets opened at 8 a.m.

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