Chancellor Jeremy Hunt to fast track tax and spending measures
Chancellor Jeremy Hunt is to fast-track many billions of pounds worth of tax and spending measures from his debt plan, announcing them a fortnight earlier than expected.It is the latest of a series of U-turns on policies announced in the mini-budget.The pound gained around 0.9% higher in early Asia trade on Monday to trade above $1.12.
"The chancellor will make a statement later today, bringing forward measures from the Medium-Term Fiscal Plan that will support fiscal sustainability," a Treasury spokesman said. There have been further conversations between the chancellor and the prime minister. Mr Hunt also met the governor of the Bank of England Andrew Bailey, and the head of the Debt Management Office, which has to sell Britain's debt, to brief them on plans.