Liz Truss latest news : Kwasi Kwartang claims he told former PM to ‘slow things down’

Chancellor Jeremy Hunt is examining freezing day-to-day public spending in real terms for three years after 2025 in the Autumn Statement next Thursday, saving about £27bn ($31.67bn) a year by 2028, the Financial Times reported.

Citing sources familiar with the matter, it reported that Mr Hunt is drawing up plans to reduce the growth in public spending in those three years to 2 per cent or lower.

The chancellor will take to the House of Commons next Thursday to deliver a fiscal statement.

Rishi Sunak said yesterday he is confident that “with goodwill and pragmatism” a breakthrough can happen in negotiations over the North Ireland protocol.

“We all recognise that the protocol is having a real impact on the ground,” the prime minister told reporters at the British-Irish Council summit in northwest England.

This is the first time a British prime minister attended the bi-annual meeting in 15 years. “I discussed this with the (Irish prime minister Micheál Martin), we had a very positive meeting, and what I want to do is find a negotiated solution, preferably.”

Mr Sunak also said that he is “pleased” with the progress. “And I’m pleased with the progress that we’re making in these early days in this job, and my focus is to try and find a resolution here.”

Kwasi Kwarteng has claimed that he told former prime minister, Liz Truss, to “slow down” after the market crashing mini-budget was announced.

“She said, ‘Well, I’ve only got two years’ and I said, ‘You will have two months if you carry on like this’,” he said.

He also criticised her “mad” decision to fire him as chancellor for implementing her tax-cutting policies.

Mr Kwarteng refused to apologise for the financial turmoil unleashed by his and Ms Truss’s disastrous mini-budget, but acknowledged “there was turbulence and I regret that”.He said the “strategic goal was right”, but “I think we should have had a much more measured approach”.