A former deputy governor of the Bank of England has predicted that the government will row back on its controversial tax cuts, on what he described as a "critical day" for Liz Truss.
Sir John Gieve said: "At some point they're going to have to U-turn on taxes.
That will be extremely painful politically for them to do but in a way, the longer they put that off, the more trouble they'll face in the markets." Report by Buseld.
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