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UK Vote May Delay Fiscal Budget Plan in Snag for BOE, Markets

  • Date of budget meant to reassure investors and feed BOE
  • Next prime minister will have final say on event and policy
Bloomberg business news
WATCH: The Oct. 31 fiscal statement depends on whether Jeremy Hunt is still Chancellor of the Exchequer, says former Chancellor Philip Hammond.Source: Bloomberg

The UK Treasury may be forced to delay its long-awaited Oct. 31 fiscal plan because of the resignation of Prime Minister Liz Truss, adding a layer of political risk to an event that had become crucial for markets and the Bank of England.

Chancellor of the Exchequer Jeremy Hunt is still working toward delivering the statement on Oct. 31, but the final decision on scheduling the statement will be a matter for Truss’s successor, two people familiar with the matter said, speaking on condition of anonymity. It also relies on Hunt remaining as chancellor under a new leader.