UK Treasury chief delays detailing new economic plans

By DANICA KIRKA
Associated Press

LONDON (AP) — UK Treasury Chief Jeremy Hunt has delayed a statement on the country’s economic affairs until Nov. 17. The move Wednesday gives the new government of Prime Minister Rishi Sunak a chance to offer a reset on policies meant to stabilize Britain’s finances after his predecessor’s sweeping tax cuts triggered market upheaval. The plan will now be a full budget, with supervision by the independent Office of Budget Responsibility. The statement was originally set to be announced on Halloween. The timing of the statement means that the Bank of England will deliver its ruling on interest rates Nov. 3 before the government details its new economic plan. Hunt says he discussed the move with Bank of England Gov. Andrew Bailey.