The British government delayed the announcement of its plan to repair the country's public finances by more than two weeks to Nov. 17, saying on Wednesday it wanted to ensure the programme reflected the latest and most accurate economic forecasts.
"Our number one priority is economic stability and restoring confidence that the United Kingdom is a country that pays its way," said Jeremy Hunt, who was retained as finance minister by new Prime Minister Rishi Sunak on Tuesday.
The plan, which was previously scheduled for Oct. 31, will show debt falling over the medium term, Hunt said.
Hunt said he had discussed delaying the fiscal announcement with Bank of England (BoE) Governor Andrew Bailey and that the central bank chief had "understood" the reasons behind the decision.
The BoE is expected to set out its interest rate decision on Nov. 3.
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