UK Treasury chief delays detailing new economic plans

Published October 26, 2022 3:20 AM

By DANICA KIRKA
Associated Press

LONDON (AP) — UK Treasury Chief Jeremy Hunt has delayed his much-anticipated economic statement until Nov. 17. The move Wednesday gives the new government of Prime Minister Rishi Sunak a chance to weigh in on policies meant to stabilize the country’s finances after his predecessor’s tax-cutting plans triggered market upheaval. The statement will now include a full budget and analysis of its impact on government debt and borrowing by the independent Office of Budget Responsibility. It was originally set to be announced on Halloween. Sunak took office Tuesday after former Prime Minister Liz Truss was forced resign following concerns that her package of tax cuts and spending increases would lead to soaring public debt.

Article Topic Follows: AP National Business

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