LONDON, Oct 1 ― Britain’s under-fire finance minister Kwasi Kwarteng has promised to unveil “a credible plan” to lower government debt as he defended his contentious mini-budget that led to market turmoil.
Kwarteng insisted his ministry will next month unveil a “medium-term fiscal plan” that will set out a path to reducing borrowing, alongside “new fiscal rules and a commitment to spending discipline”.published late Friday, he noted a full forecast from the country’s fiscal watchdog, the Office for Budget Responsibility , would also accompany the plan on November 23.
Opposition politicians, independent analysts and even some Tory lawmakers have assailed the plans as reckless and counter-productive.
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