UK brings budget forward in another attempt to reassure markets | CNN Business

, in an attempt to reassure investors and restore the government’s badly damaged credibility. Kwarteng announced the new date in a letter to the Treasury on Monday. He also confirmed that the Office for Budget Responsibility , the independent fiscal watchdog, will publish its assessment of the government’s midterm budget on the same day.

Investors have been awaiting clarity on a revised date for the budget, which was initially set for November 23. It was widely expected to be brought forward after Kwarteng’s “mini” budget on September 23 crashed the pound and sent shockwaves through financial markets with its promise of £45 billion of unfunded tax cuts. — This is a developing story and will be updated.

But... he *created* ballooning government debt.

Reassure markets, possibly, but voters?

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How meltdown in a $1 trillion market brought the UK to the brink of a financial crisis | CNN BusinessPension funds are designed to be dull. Their singular goal — earning enough money to make payouts to retirees — favors cool heads over brash risk takers.
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