The Prime Minister has agreed to push back the ‘Halloween Budget’ announcement until next month.
Following the first meeting of Rishi Sunak’s new Cabinet this morning, it was announced the full Autumn statement would be pushed back until November 17.
It had originally been pencilled in for October 31 and comes as the new PM prepares for his first face-off with Labour’s Keir Starmer in the House of Commons.
In a statement, a No10 spokeswoman said: ‘The Prime Minister and the Chancellor agreed that the fiscal event would now take place on the November 17, and would be an Autumn Statement.
‘He (the chancellor) said it is important to reach the right decisions and there is time for those decisions to be confirmed with Cabinet.
‘The Autumn Statement will set out how we will put public finances on a sustainable footing and get debt falling in the medium term and will be accompanied by a full forecast from the Office for Budget Responsibility.’
Just last week, the new Chancellor Jeremy Hunt ripped up nearly all of Liz Truss’ doomed tax measures and announced a shock U-turn on support for energy bills.
It was unveiled in a last-minute emergency statement to stabilise Britain’s finances, but Hunt promised to deliver more economic measures on Halloween – which is being delayed after Sunak’s rise to Number 10.
Help with energy bills for all households will now only last until April, rather than the two years previously promised by Kwasi Kwarteng.
Kwarteng was sacked by Truss after their disastrous mini-Budget triggered a market meltdown and plummeted the pound.
PM Sunak yesterday warned of ‘difficult decisions to come’ in his first speech from Downing Street, paving the way for a new era of austerity.
He promised to ‘fix’ the economic mess left behind by Truss as he admitted his Tory predecessor had made ‘mistakes’.
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