New UK Prime Minster Rishi Sunak delayed an economic strategy announcement planned for Monday until November 17 as he sought more time to make the “right decisions” on managing the British economy.
The delay from October 31 was announced in a readout of Wednesday’s Cabinet meeting issued by Sunak’s office. The government also upgraded the status of the program from a “medium-term fiscal” plan to an Autumn Statement — a form of interim mini budget.
The delay means the Bank of England will now make its next interest rates decision on November 3 without the benefit of knowing the full direction of travel the government is setting for the economy. But Chancellor of the Exchequer Jeremy Hunt told broadcasters that it was important to allow for time to make enduring choices on the direction of the economy, and that he had discussed the timing with the central bank.
“This is
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