The Chancellor is hoping to win over disgruntled MPs as well as assuring the markets he will not allow borrowing to run out of control
will seek to calm markets by pledging “an iron-clad commitment to fiscal discipline” even as he vows to press ahead with massive tax cuts.
Market traders will be watching carefully to see what his speech on Monday means for the future of the pound after 10 days of turbulence which sawbefore recovering most of its losses after the Bank of England stepped in. He is set to tell activists: “We must face up to the facts that for too long our economy has not grown enough. The path ahead of us was one of slow, managed decline. And I refuse to accept that it is somehow Britain’s destiny to fall into middle income status, or that the tax burden reaching a 70-year-high is somehow inevitable. It isn’t, and shouldn’t be.
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