LONDON, Oct 17 (Reuters) – Britain’s new finance minister Jeremy Hunt will announce tax and budget measures on Monday, two weeks ahead of schedule, as he tries to stem a loss of confidence in the government’s budget plans. government.
“The Chancellor will make a statement later today outlining measures from the medium-term fiscal plan that will support fiscal sustainability,” the finance ministry said. “He will also make a statement in the House of Commons this afternoon.”
Hunt met Prime Minister Liz Truss over the weekend to review economic proposals that triggered a plunge in the value of the pound and UK government bonds when they were announced on September 23.
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Hunt will present a more comprehensive medium-term fiscal plan as scheduled on Oct. 31, alongside the forecast from the Independent Office for Budget Responsibility, the Treasury said.
Hunt met Bank of England Governor Andrew Bailey and the head of Britain’s debt management office on Sunday evening to brief them on his plans, the Treasury said.
The pound rose in Asian trading in low volumes early on Monday.
Hunt faces another test of his bid to stem the crisis of confidence at 0800 (0700 GMT) when the bond market reopens.
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Written by William Schomberg. Editing by Gerry Doyle
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