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03:10
How Kwasi Kwarteng’s 'mini-budget’ has had a big impact
Chancellor Kwasi Kwarteng's 'mini-Budget' was introduced to show a change in direction of government policy, using tax cuts for higher earners to reignite growth in the stuttering UK economy.
The package proposed though came with no analysis from the independent Office for Budget Responsibility and with investors fearing the plan was on a collision course with the Bank of England's plans to curb inflation, markets took fright and the pound plunged against the dollar and euro.
This video explains how the new government's financial plan shook the market.
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