Markets remain positive following Hunt's tax cancellation

Sterling still at $1.13

Markets have remained relatively stable following the chancellor's overhaul of the Mini Budget.

Jeremy Hunt, who took on the role last Friday (14 October), made an emergency statement today (17 October) detailing that he would be U-turning on almost every measure in the Mini Budget that has not yet been legislated for in parliament. This was a bigger backtrack than expected from the new chancellor, effectively undoing everything his predecessor Kwasi Kwarteng laid out less than a month ago. Chancellor Jeremy Hunt rips up Kwasi Kwarteng's Mini Budget In his opening statement, Hunt said: "A central responsibility of any government is to do what is necessary for economic stabili...