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UK lawmakers call on Kwarteng to bring forward budget forecasts

UK lawmakers call on Kwarteng to bring forward budget forecasts By Reuters

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Economy 8 minutes ago (Sep 29, 2022 17:26)

© Reuters.

LONDON (Reuters) – A committee of lawmakers in Britain’s parliament urged finance minister Kwasi Kwarteng to bring forward his planned Nov. 23 budget statement which will include new forecasts by the country’s fiscal watchdog.

Kwarteng announced a package of tax cuts last week in a fiscal statement that lacked the usual accompanying Office for Budget Responsibility (OBR) forecasts, sending British financial markets into turmoil.

The Treasury Committee of the House of Commons said an earlier forecast by the OBR would benefit a meeting of the Bank of England’s Monetary Policy Committee that is due to end with an announcement on interest rates on Nov. 3.

UK lawmakers call on Kwarteng to bring forward budget forecasts

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