UK budget office to produce draft of new forecasts for Oct. 7

UK budget office to produce draft of new forecasts for Oct. 7
UK budget office to produce draft of new forecasts for Oct. 7 Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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LONDON - Britain's independent fiscal watchdog, the Office for Budget Responsibility (OBR), said on Thursday it had been asked by finance minister Kwasi Kwarteng to produce a first draft of its next economic forecasts on Oct. 7.

Kwarteng has said he plans to announce a budget statement on Nov. 23.

He unveiled a string of tax cuts last week in a fiscal statement that was not accompanied by OBR forecasts and which sent British financial markets into turmoil.

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