The 'mini' budget of Prime Minister Liz Truss continues to face criticism where the latest comes from the former governor of the Bank of England (BOE), Mark Carney.
Mark Carney, who was head of the central bank before Andrew Bailey, accused Liz Truss's government of undermining the UK's key economic institutions and deliberately moving against the BOE.
The comments came after the central bank was forced to intervene to ease market turmoil caused by the Truss government's emergency bond-buying programme.
The sweeping tax cuts announced by Finance Minister Kwasi Kwarteng last week have fueled investor panic over the future of the UK economy as inflation is set to rise higher.
It has caused a sharp fall in the value of the pound and pushed government borrowing costs higher.
Turning to Carney, he said the measures taken by the Truss government amid a difficult global economy had led to dramatic movements in financial markets.
The BOE's massive intervention on Wednesday has sparked comparisons with Black Wednesday 1992, when the UK was kicked out of the European exchange rate mechanism for failing to keep its exchange rate above a lower limit.
