LONDON, Sept 5 — British finance minister Jeremy Hunt said today that he would deliver his next budget update to parliament on November 22, in what is set to be a closely watched speech as Britain gears up for a national election expected in 2024.
“As a Conservative, I want to bring taxes down as soon as we can afford to do so,” Hunt told parliament during a regular question and answer session, shortly after he announced the date for the mid-year fiscal update, known as the Autumn Statement. Hunt has welcomed a major data revision from Britain’s Office for National Statistics last week which showed the country’s economy regained its pre-pandemic size in late 2021, more than a year and a half sooner than previously thought.
Hunt also said Britain was on track to meet Sunak’s goal to halve inflation from the double-digit rate seen late last year. At 6.8 per cent, British inflation remains the highest of any major economy.