Chancellor Jeremy Hunt delayed the anticipated October fiscal statement to allow the government extra time to establish robust spending plans.
Sir Roger Gale has warned the autumn budget will be “unpalatable” and many will not consider the policies to be “particularly Conservative.”
The budget will be announced on November 17 as an “upgraded” version of the delayed fiscal statement that was due to be released at the end of October.
The Chancellor has indicated the new budget will focus on “restoring confidence” in the UK economy, although Sir Roger indicated the reality of the fiscal policy would be “extremely tough”.
As the budget announcement draws closer, the Prime Minister has travelled to Egypt to attend the COP27 summit in Sharm El Sheikh.
Sir Roger asserted: “Rishi Sunak has the public interest at heart. The autumn budget will follow in the wake of Kwasi Kwarteng’s disastrous mini-budget which sparked chaos in the markets.
Under Rishi Sunak, Chancellor Jeremy Hunt has indicated he will ensure the new economic approach “stands the test of time”.
The Chancellor added that his top priority with the upcoming budget was to secure “economic stability” and enforce the image of the UK as “a country that pays its way”.
Tory MPs have remained tight-lipped over the exact contents of the upcoming budget, although there is speculation the announcement is likely to include tax hikes and spending cuts.
Jeremy Hunt has indicated he will not pursue either tax cut in the autumn release.
The above summary was derived from the story linked below
Source: Tory grandee Roger Gale rings alarm bells over ‘unpalatable’ Autumn budget