LONDON - British Finance Minister Jeremy Hunt said on Wednesday the government’s fiscal statement will be delayed to Nov 17 for it to reflect the “most accurate possible economic forecasts,” adding that it will show debt falling over the medium term.“Our number one priority is economic stability and restoring confidence that the United Kingdom is a country that pays its way and for that reason, the medium term fiscal plan is extremely important,” Mr Hunt said.
A delay could affect the BoE’s plans as it ponders its interest rate announcement due on Nov 3 and prepares to begin selling bonds from its quantitative easing programme on Nov 1. The start of those bond sales was pushed back by a day last week to accommodate the fiscal statement. He began on Tuesday by re-appointing Jeremy Hunt as finance minister. Mr Hunt was drafted in last week by Ms Truss to reverse her tax-cutting plans and calm financial markets which has so far largely worked.