UK Leaders Say They Value Fiscal Scrutiny After Tax Plan Sparked Market Turmoil

Prime Minister Liz Truss and Chancellor Kwasi Kwarteng meet officials from the Office for Budget Responsibility (OBR) in Downing Street, London, on Sept. 30, 2022. UK Treasury

UK Prime Minister Liz Truss and Chancellor Kwasi Kwarteng have said they value the scrutiny from an independent fiscal watchdog, after their plan to fund massive tax cuts with government borrowing rattled investors and led to turmoil in the financial markets.

At an unusual meeting held in Downing Street on Friday, Truss and Kwarteng told officials from the Office for Budget Responsibility (OBR) that the government will “work closely” with them and will heed their input.