Since the government’s tax-cutting mini-budget last week, the pound has hit record lows against the dollar, mortgage providers have pulled hundreds of products and there has been damning criticism from the International Monetary Fund and an emergency intervention by the Bank of England.
Critics have accused Liz Truss, the prime minister, and Kwasi Kwarteng, the chancellor, of being “economically illiterate”.
On the Sky News Daily, Niall Paterson looks at the economic arguments and the market reaction. He’s joined by Sky News business presenter Ian King, Martin Weale, a former member of the Bank of England's Monetary Policy Committee, and Jane Foley, a senior strategist at Rabobank.
Producers: Soila Apparicio and Emma Rae Woodhouse
Interviews Producer: Alys Bowen
Podcast Promotion Producer: David Chipakupaku
Editors: Philly Beaumont and Paul Stanworth