Prime Minister Rishi Sunak and his Chancellor of the Exchequer Jeremy Hunt “agreed the date of November 17” for the much-anticipated presentation of the budget, dubbed the “Halloween budget” in the UK, following the fiasco of the “mini-budget” of the United Kingdom. Truss government.
This was heavily criticized, which led to unrest in the financial markets. The pound plummeted and government debt rose until the British central bank intervened. The unrest about the measures led to the resignation of Finance Minister Kwasi Kwarteng. He was succeeded by Jeremy Hunt, who scrapped almost all tax measures.
Hunt, who was reappointed as finance minister on Tuesday, said on Wednesday, after the Sunk government’s first council of ministers, that budget plans “should be based on the most accurate economic and budget forecasts possible.” He also confirmed that his plan will reduce the debt burden in the medium term. “It’s very important that people understand that.”
The presentation of the medium-term fiscal plan is now becoming an “autumn statement,” reports the PA news agency. On that day, the Office for Budget Responsibility also publishes a series of economic forecasts.
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