Kwasi Kwarteng will publish his financial strategy and economic plans earlier than expected, on October 31. It comes after the Chancellor faced mountain pressure to reveal his medium-term fiscal plan.
Following the U-turn, Mr Kwarteng will set out his strategy alongside Office for Budget Responsibility (OBR) predictions on Halloween. He had previously resisted unveiling any details ahead of November 23 after he set out his multi million-pound package of tax cuts to be paid for by borrowing.
The move has been welcomed by the Commons Treasury Committee chair Mel Stride, who said the documents may result in a smaller rise in interest rates which is “critical to millions” of mortgage holders. But the senior Tory MP warned this would only be the case if the plan “lands well with the markets” ahead of a Bank of England meeting on November 3.
