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Mini-budget 2022: chancellor Kwasi Kwarteng to unveil tax cuts as Labour calls it ‘another zigzag on path of policy failure’ – live

Predictions that today’s fiscal event – expected at 9.30am – could be biggest package of tax cuts since 1988

From Sky’s Ed Conway

Pat McFadden, the shadow chief secretary to the Treasury, was also giving interviews this morning. He told BBC Breakfast that the government was engaged in trickle-down economics. He explained:

What today looks like is the government taking an enormous gamble with the public finances by taking a series of measures and putting it all on borrowing, and calling it a plan for growth …

This isn’t really a plan for growth, it is a return to some very old-style Tory polices based on the belief that if you make those who are already wealthy even wealthier it will trickle down to the rest of us …

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