Minister 'surprised' at market reaction to tax cuts

The education secretary has said he was surprised at the market reaction to tax cuts announced in last week's mini-budget.

The cuts, funded by more government debt, sparked a fall in the pound and a surge in public borrowing costs earlier this week.

Kit Malthouse told the BBC Liz Truss had "advertised" a change in approach in her Tory leadership bid.

He added he hoped "things will settle" after a "challenging week".