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Government's mini-budget expected on 23 September
The mini-budget, also referred to as a “fiscal event” will be revealed just before the Commons is due to enter a parliamentary conference recess, according to Sky News.
Parliament is currently suspended, in line with the 10-day official mourning period for the late Queen. The timing of this budget was described as “constrained” by Sky News, as Liz Truss is due to visit the United States for the United Nations General Assembly after the Queen’s funeral, which will be taking place on Monday 19 September.
The PM had first promised an “emergency budget” during her leadership campaign, with cost-of-living issues being front and centre of the conversation surrounding both campaigns.
It comes as the PM introduced an energy price guarantee to cap energy prices, restricting bills to £2,500 for two years, which will be implemented from October onwards.
People and businesses are keen to hear the details of Liz Truss and Kwasi Kwarteng’s “mini-budget" as many are unsure how the budget will be funded. Concerns about expanding the UK’s reliance on borrowing are rife, as the cost-of-living crisis continues to bite.
On Tuesday, Kate Nicholls, CEO of UK Hospitality, authored a letter signed by hundreds of other businesses urging the chancellor to reveal specifics regarding the support they’ll receive.
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