https://sputnikglobe.com/20221010/uk-chancellor-brings-forward-budget-debt-cutting-plan-to-31-oct-amid-economic-crisis-1101687805.html
UK Chancellor Brings Forward Budget Debt-Cutting Plan to 31 Oct Amid Economic Crisis
UK Chancellor Brings Forward Budget Debt-Cutting Plan to 31 Oct Amid Economic Crisis
Sputnik International
In late September, UK Chancellor of the Exchequer Kwasi Kwarteng presented a plan to support the country's economy, which included a large-scale tax cut. 10.10.2022, Sputnik International
2022-10-10T13:54+0000
2022-10-10T13:54+0000
2023-05-28T15:21+0000
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UK Chancellor Kwasi Kwarteng has set a new date for the publication of the government's medium-term budget plan, according to the BBC.Kwasi Kwarteng said in a letter to the chairman of the Commons Treasury Committee, Mel Stride, that the spending and borrowing plan will be announced on 31 October 31 rather than 23 November as previously arranged.The Treasury has confirmed it intends to postpone the publication of the financial strategy and the assessment of the government's plans by the Office for Budget Responsibility (OBR).Earlier this month, Kwarteng admitted that the new economic plan had caused "a little turbulence" on the markets and the government would come up with a new deal to help ensure economic growth in the country.Since the announcement of the plan, the yield on Britain's five-year government bonds has risen to 4.6 percent - its highest level since 2008 - which means a lower demand for British debt securities, triggering a barrage of criticism against the government of UK Prime Minister Liz Truss.On 23 September, Kwarteng unveiled a new growth plan to support the country's economy amid rising costs of living. The plan includes canceling the planned rise in corporate tax, keeping it at the lowest level in the G20 at 19 percent.
https://sputnikglobe.com/20220929/conservative-mps-press-truss-to-fire-kwarteng-or-face-rebellion-amid-uk-financial-market-turmoil-1101328129.html
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kwasi kwarteng, crisis, united kingdom (uk)
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UK Chancellor Brings Forward Budget Debt-Cutting Plan to 31 Oct Amid Economic Crisis
13:54 GMT 10.10.2022 (Updated: 15:21 GMT 28.05.2023) In late September, UK Chancellor of the Exchequer Kwasi Kwarteng presented a plan to support the country's economy, which included a large-scale tax cut.
UK Chancellor Kwasi Kwarteng has set a new date for the publication of the government's medium-term budget plan, according to the BBC.
Kwasi Kwarteng said in a letter to the chairman of the Commons Treasury Committee, Mel Stride, that the spending and borrowing plan will be announced on 31 October 31 rather than 23 November as previously arranged.
The Treasury has confirmed it intends to postpone the publication of the financial strategy and the assessment of the government's plans by the Office for Budget Responsibility (OBR).
29 September 2022, 05:57 GMT
Earlier this month,
Kwarteng admitted that the new economic plan had caused "a little turbulence" on the markets and the government would come up with a new deal to help ensure economic growth in the country.
Since the announcement of the plan, the yield on Britain's five-year government bonds has risen to 4.6 percent - its highest level since 2008 - which means a lower demand for British debt securities, triggering a barrage of criticism against the
government of UK Prime Minister Liz Truss.
On 23 September, Kwarteng unveiled a new growth plan to support the country's economy amid rising costs of living. The plan includes canceling the planned rise in corporate tax, keeping it at the lowest level in the G20 at 19 percent.
