UK stuck in ‘Tory doom loop’ of emergency budgets, Labour says

Chancellor expected to unveil cuts and tax rises following Liz Truss failure

The British economy is stuck in a "doom loop" of emergency Conservative budgets, Labour has said – as Jeremy Hunt prepares to give his autumn statement.

Mr Hunt is expected to enact significant tax rises and spending cuts, which he says will restore economic "stability".

It comes just weeks after Liz Truss and Kwasi Kwarteng unveiled huge unfunded tax cuts, which sent financial markets haywire and led to Ms Truss's resignation as prime minister.