Prime Minister Rishi Sunak was said to have been mulling over the idea of delaying next week’s planned fiscal statement as part of an effort to fill a hole of £40.0bn in Britain’s finances.
According to the Times, Sunak will meet Finance Minister Jeremy Hunt on Wednesday to talk over his proposals to hike taxes and further limit public spending.
The statement will then potentially be delayed by a matter of days, to be ready to be presented before 3 November when the Bank of England will likely announce its intentions for further interest rate hikes, or could even be pushed back again and turned into a full budget.
The news comes hot on the heels of comments from former Prime Minister Liz Truss’ spokeswoman, who said that her successor would have to decide whether or not to proceed with a fiscal plan scheduled for 31 October.
Reporting by Iain Gilbert at Sharecast.com
