Jeremy Hunt’s £40bn hole: where cuts could fall and what it could mean for builders

By Daniel Gayne2022-10-18T06:00:00

Paring back investment may prove the least politically painful way to make the sums add up

The short-lived era of Trussonomics came to a sudden and undignified end yesterday as the prime minister’s new chancellor junked almost the entirety of her plan for “growth, growth, growth” and instead set out his intention to stabilise the UK economy.

While embarrassing for Truss, the statement made by Jeremy Hunt appeared to achieve its stated aim, as the pound surged more than 2% against the dollar and UK borrowing costs tumbled, with the yield rate down by 40 basis points.

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