Hunt, appointed on Friday to fix the public finances after Truss's economic plan hammered the value of British assets, said the country needed to generate confidence and stability before it could seek to grow the economy. He said changes to planned tax cuts would raise 32 billion pounds ($36 billion) every year. While he had been expected to reverse some of the tax cuts, the change to the energy support scheme had been unexpected. Truss had announced a two-year subsidy scheme to support households and businesses through the period of surging energy prices, costing 60 billion pounds in six months. Hunt would still deliver a fuller medium-term fiscal plan as scheduled on Oct. 31, alongside forecasts from the independent Office for Budget Responsibility, the Treasury said.

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