Chancellor to make statement today - The Edinburgh Reporter

The new UK Chancellor, Jeremy Hunt, will make a statement today.

He is to make an announcement about new measures from the Mid-Term Fiscal Plan due on 31 October which will bring some of these forward.

In addition the Chancellor will also make a statement to the House of Commons in the afternoon to ensure that sustainable public finances back up the economic growth that he and the Prime Minister want to promote.

Official portrait of the Chancellor of the Exchequer Jeremy Hunt. Picture by Andrew Parsons / No 10 Downing Street

When the Medium Term Fiscal Plan is announced at the end of the month the Chancellor has confirmed that this will be published alongside a forecast from the Office for Budget Responsibility. This was the key information missing from the previous statement on 23 September made by former chancellor, Kwasi Karteng. Mr Karteng left office on Friday amidst a flurry of letters to and from the Prime Minister who did not state publicly why he was either sacked or resigning.

The Chancellor met with the Governor of the Bank of England, Andrew Bailey, on Sunday night and the Head of the Debt Management Office to brief them of the government’s plans.