And Jeremy Hunt has just announced that all of said tax cuts in the so-called "growth plan" is now abandoned. So, now what?
If you look at things, it really has been an extraordinary couple of weeks in the UK. What exactly was the purpose of this whole exercise then? There is no backing to the narrative that Truss is pushing a "growth plan" as whatever policy that is now going to take shape is essentially the same thing as it would have been with Johnson and Sunak in their previous positions.
It's a real mess politically now and there is essentially no hiding place for Truss. It will be hard to see how she can survive such a blow in confidence and credibility.
In any case, markets will be happy with Hunt's announcement and the biggest winners? The Bank of England, of course.
