The Chancellor has delayed the delivery of his fiscal plan. Originally due to be published on 31st October, the announcement will now be given on 17th November in the form of a full Autumn Statement.
The economic plan will now be published alongside a new set of economic forecasts from the Office for Budget Responsibility.
Jeremy Hunt said: “I’ve demonstrated in the short time that I’ve been Chancellor that I’m willing to take decisions very quickly and I’m willing to make choices that are politically embarrassing if they’re the right thing to do for the country, if they’re in the national interest.
“Now we have a new Prime Minister and the prospect of much longer-term stability for the economy and the country.
“In that context a short two-and-a-half week delay is the best way we will make sure that it is the right decisions we take.”
He told reporters: “I want to confirm that it will demonstrate debt falling over the medium term which is really important for people to understand.
“But it’s also extremely important that that statement is based on the most accurate possible economic forecasts and forecasts of public finances.
“And for that reason the Prime Minister and I have decided it is prudent to make that statement on November 17 when it will be upgraded to a full autumn statement.”