New British Prime Minister Rishi Sunak told his cabinet of ministers on Wednesday the government will delay a fiscal event until Nov. 17 because it is important to get difficult decisions right and consult on them.
Sunak told the cabinet that the government would prioritise economic stability and fiscal sustainability, agreeing with finance minister Jeremy Hunt to push back the fiscal statement, which had been due on Oct. 31.
"(Sunak) said it is important to reach the right decisions and there is time for those decisions to be confirmed with Cabinet," his office said.
"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."
(Reporting by William James, writing by Alistair Smout; Editing by Sachin Ravikumar)
