UK Chancellor to issue statement today in bid to calm markets

Jonathan Stapleton
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Jeremy Hunt took over as chancellor on Friday. Credit: UK Parliament
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Jeremy Hunt took over as chancellor on Friday. Credit: UK Parliament

Chancellor Jeremy Hunt will publish an emergency statement at 11am today (17 October), bringing forward tax and spending measures from the medium-term fiscal plan in a bid to support fiscal sustainability.

HM Treasury said he will also make a statement in the House of Commons this afternoon, expected to be at 3pm.

The government department said this follows the prime minister's statement on Friday, and further conversations between the prime minister and the chancellor over the weekend, to ensure sustainable public finances underpin economic growth.

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It added the chancellor will then deliver the full Medium-Term Fiscal Plan to be published alongside a forecast from the independent Office for Budget Responsibility on 31 October.

HM Treasury said the chancellor had met with the governor of the Bank of England and the head of the Debt Management Office last night to brief them on these plans.