LONDON: 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.
In an article for the Daily Telegraph 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.
It cited the risk that"the UK's economic growth turns out weaker due to further deterioration of the economic environment, or if the government's borrowing costs increase more than expected".
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