, 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?
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: cnni - 🏆 326. / 59 Read more »