Jeremy Hunt to make snap statement on medium-term fiscal plan
Jeremy Hunt, the UK chancellor, is to make a statement later on Monday bringing forward measures from the medium-term fiscal plan, the Treasury has announced.
Hunt is also due to make a statement in the House of Commons in the afternoon, according to the Treasury.
“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,” said a Treasury statement.
The chancellor would deliver the full medium-term fiscal plan to be published alongside a forecast from the independent Office for Budget Responsibility on 31 October, the Treasury said.
“The chancellor 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.”
After crisis talks at Chequers over their new fiscal plan on Sunday, Jeremy Hunt insisted that Liz Truss was still “in charge” as prime minister despite her increasingly perilous position, as he warned of further public spending cuts and failed to rule out more U-turns on her disastrous mini-budget including scrapping the 1p cut to the income tax base rate.
Hunt spent the weekend trying to offer reassurance that the government had control of the economy. Yet he painted a grim picture of what it would take to stabilise it after a turbulent few weeks during which the government scrapped plans to cut the 45p top rate of income tax and freeze corporation tax. He is understood to be considering pushing back by a year plans to cut a penny off income tax next April.
“We are going to have to take some very difficult decisions, both on spending and on tax,” he told the BBC’s Laura Kuenssberg. “Spending is not going
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