Mini budget reaction: Most benefit to those least concerned by cost of living crisis

Dr Gordon Fletcher, retail and economy expert from the University of Salford Business School reacts to the mini budget this morning

Dr Fletcher said: “This feels like a series of uncosted party pledges being made going into a general election rather than a costed, balanced management of national finances being made by a responsible government!

“The announcements primarily benefit those probably least concerned about cost of living increases within their households and those business most benefitting from the current situation. It is a solution pinned to a vague objective of achieving growth without addressing the real systemic issues that confront UK business including productivity issues and upskilling the working population.

“The fiscal event has not received scrutiny from the Office of Budget Responsibility and no statement about the long-term consequences of these decisions accompanied Kwarteng’s performance. The event appealed directly to – and rewarded – the constituency that elected Truss to Prime Minister. There will be little to celebrate for those most worried about heating their home over Christmas.”