The next UK prime minister may delay the scheduled October 31 announcement of the medium-term budget plan that was drawn up without their input, British media reported Friday
MOSCOW (Pakistan Point News / Sputnik - 21st October, 2022) The next UK prime minister may delay the scheduled October 31 announcement of the medium-term budget plan that was drawn up without their input, British media reported Friday.
A race is underway within the ruling Conservative Party to pick a new leader after Liz Truss stepped down on Thursday following six tumultuous weeks in office. The new prime minister will be announced on October 28, three days before Chancellor Jeremy Hunt is due to make his fiscal statement.
A spokesperson for the prime minister's office told reporters that the new prime minister would decide if that statement should go ahead. Sky news said it was suggested that the next Conservative leader could delay the budget announcement.
The chancellor is still working on the announcement, the Downing Street spokesperson said. Hunt's spending plan reassured the markets after his predecessor's budget proposal caused market turmoil and prompted a historic drop in the value of the British national Currency.
