Kwasi Kwarteng tried to tell Liz truss to ‘slow down’ before the disastrous mini-budget, but she felt ‘invincible’, according to a new book.
The Chancellor had barely got his feet under the table when he had to stand in the Commons and deliver the mini-budget speech which would soon end up being his downfall.
In the speech on September 23, Mr Kwarteng announced tens of billions of pounds of both increased spending and tax cuts.
His package of £45bn worth of unfunded tax cuts was slammed by other MPs and saw the value of the pound plummet.
He was forced to make a U-turn just days later on his plan to abolish the 45p top rate of income tax, paid by people earning more than £150,000 a year.