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UK Treasury May Save £15 Billion by Delaying Fiscal Statement

  • Delay means OBR can factor in a drop in market interest rates
  • Rishi Sunak’s government needs to reduce government borrowing
The inner courtyard at the H.M. Treasury building in London.

The inner courtyard at the H.M. Treasury building in London.

Photographer: Luke MacGregor/Bloomberg 

Prime Minister Rishi Sunak’s decision to delay the UK Treasury’s economic statement may save as much as £15 billion and spare the public services deep spending cuts, a prominent economist said.

The statement including economic forecasts and estimates for government borrowing will be delivered on Nov. 17 instead of on Oct. 31 as previously planned.