Kate is a Senior Trends Reporter at HuffPost UK, covering the day's most compelling stories. She has worked in the national news since she became a qualified journalist and was previously a reporter with Express.co.uk
She wants the forecasters to be able to question the government over the spending promises they offer up.
It’s a stark contrast to Truss’s decision to bypass the OBR’s forecasts before unveiling her mini-Budget two years ago which sent the markets into turmoil, spooked the financial markets and sent mortgage rates soaring.“It accepts TWO THIRDs of the gilt yields spike was due to LDI related trading following its oversight failure.
“Rather than giving more power to unelected bureaucrats, the Chancellor ought to be ordering an urgent investigation into what her former colleagues at the Bank of England were up to prior to the 2022 LDI market crisis and holding them to account.” Labour's Bill today hands more power to bureaucrats just when the Bank of England admits the 2022 market crisis was ITS fault.Reeves, who used to work in the Bank of England herself, alluded to Truss’s past when she first hinted at her plans earlier this month.: “Never again can a government play fast and loose with the public finances. This new law is part of our plan to fix the foundation of our economy so we can rebuild Britain.
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