Posted: Mon 17th Oct 2022

Chancellor Jeremy Hunt to make emergency statement on fiscal plan today

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Monday, Oct 17th, 2022

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Chancellor Jeremy Hunt will deliver a statement later today, bringing forward measures from the medium-term fiscal plan. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The move is aimed at supporting fiscal sustainability, the Treasury has said. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The announcement comes following the chaos sparked by his predecessor Kwasi Kwarteng’s mini budget on September 23. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Mr Hunt replaced Kwasi Kwarteng as Chancellor on Friday. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

In a statement released ahead of the markets opening this morning, the Treasury said: “The Chancellor will make a statement later today, bringing forward measures from the Medium-Term Fiscal Plan that will support fiscal sustainability.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“He will also make a statement in the House of Commons this afternoon.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“This follows the Prime Minister’s statement on Friday, and further conversations between the Prime Minister and the Chancellor over the weekend, to ensure sustainable public finances underpin economic growth.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“The Chancellor will then deliver the full Medium-Term Fiscal Plan to be published alongside a forecast from the independent Office for Budget Responsibility on 31 October.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“The Chancellor met with the Governor of the Bank of England and the Head of the Debt Management Office last night to brief them on these plans.” ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

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