Kwasi Kwarteng will promise a 'new era for Britain' with a major package of measures to 'turn the vicious cycle of stagnation into a virtuous cycle of growth'
Unlike a full budget, which would typically be held in November, Mr Kwarteng will only put forward a handful of major legislative proposals.
Instead, he has said he will provide a timeline for an independent economic forecast from the Office for Budget Responsibility during his mini-budget.Some economists have warned about the sharp rise in government borrowing to fund the plans.The Institute for Fiscal Studies said the strategy to drive growthand that ministers risked putting the public finances on an"unsustainable path".
Pat McFadden, shadow chief secretary to the Treasury, said:"The Conservatives don't have a new plan for economic growth. They have simply moved from levelling up to trickle down and that has not worked in the past.
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