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Kwarteng Says Mini-Budget Came in ‘High Pressure’ Period Around Queen’s Funeral

Kwasi Kwarteng departs his hotel in Birmingham on Oct. 4.

Kwasi Kwarteng departs his hotel in Birmingham on Oct. 4.

Photographer: Hollie Adams/Bloomberg

The Queen's death added to the "high-pressure" environment around the preparation of the mini-budget last month, the Chancellor has said.

The Government was plunged into crisis in the wake of Kwasi Kwarteng's plan being announced in the House of Commons, as the pound plunged to historic lows and the Bank of England was eventually forced to intervene to calm the markets.