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.
Photographer: Luke MacGregor/Bloomberg
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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.