The business reporter is from the British Broadcasting Corporation.
The pound has fallen to a new 37 year low against the dollar.
The UK stock market fell after Kwarteng outlined a series of tax cuts and economic measures.
The pound dropped against the dollar.
The strength of the US dollar is one of the reasons why sterling has fallen recently.
The pound fell against the euro on Friday.
The UK's benchmark stock index fell to its lowest level in more than two months.
Some analysts think that inflation will stay high for some time after the government announced a £45 billion tax break.
The Bank of England's next meeting in November is expected to see a one percentage point interest rate hike.
The Bank raised UK rates by half a percentage point.
The cost of servicing the UK's debt has gone up.
The market reaction shows investors are nervous about the economy.
She said that there has been a negative reaction in the markets in sterling.
The sell-off shows investors have doubts about the government.
Some of the tax cuts that have been announced may not be fully funded. When the Bank of England sells some of its holdings of UK government debt, that will result in a large amount of debt.
I think the government needs to give a lot more reassurance that it has fiscal discipline. This is a different message than the one that came across this morning.
The budget is designed to jump start the economy.
A £12 billion corporation tax cut, a £17 billion National Insurance cut, a £5 billion basic rate income tax cut, and a 2% cut to the 45p rate were all included. It's the biggest tax cutting moment in over 50 years.
It should soothe some of the recession we are already likely in, but the borrowing has sent markets reeling.
It has been one of the worst days for UK Government bonds in decades, with some of the biggest increases in the cost of borrowing since the 1990s.
Long-term borrowing rates for companies and householders are set by this.
The lack of numbers, visibility, and quantifiable commitment to reining in government borrowing has made markets uncertain.
The markets were told that the government needed to borrow more money, but they did not know the numbers behind that. At the beginning of the leadership contest with Rishi Sunak, the interest rates on British debt were 1.8% and 4%, respectively.
The Treasury has a table of forecasts that show how much tax revenue will be raised if the reforms are able to raise growth in the economy.
The table has not convinced the markets. Extra tax revenue is assumed to replace actual tax.
The prime minister was critical of bean counter workers. One side of the ledger is shown in the plan. It's normal for a chancellor to focus on fiscal credibility. It wasn't the priority here.
The government threw the kitchen sink at the plan. Growth should be helped before it happens. The echoes of the last Budget of this size will not be good.
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