A Delay in Fiscal Statement by UK PM

The new UK Prime Minister, Rishi Sunak has come onboard in hard times of financial turmoil after the leaving of Lizz Truss.

It has been reported that Rishi Sunak is considering a delay in next week’s planned fiscal statement that will reveal the financial status of UK’s economy with all the data and financial figures.

Rishi Sunak will also meet the chancellor, Jeremy Hunt today, who might be asked to delay the fiscal statement. This delay will take place in order to fill a hole of 40 billion pounds in UK’s economy, which happened because of economic slowdown and higher borrowing costs.

UK PM said that he will try to fix the problems left by his predecessors, and will bring economic stability in UK.

In his meeting with Jeremy Hunt, it is expected that a strategy to counteract with the economic crisis will be discussed. Rishi Sunak is likely to increase taxes and cut public spending to bring financial stability.

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