The new chancellor warned this morning that “all departments will need to redouble their efforts to find savings, and some areas of spending will need to be cut”.
This is despite the government having U-turned on almost every measure set out in its mini-budget less than three weeks ago.
The government was planning to order government departments to cut 2 per cent of their revenue funding, it was reported, before former chancellor Kwasi Kwarteng was ousted last week. However reports say Hunt intends to go further.
