Chancellor to issue statement today in bid to calm markets

Move comes a fortnight earlier than planned

Jonathan Stapleton
clock • 1 min read
Jeremy Hunt took over as chancellor on Friday. Credit: UK Parliament
Image:

Jeremy Hunt took over as chancellor on Friday. Credit: UK Parliament

Chancellor Jeremy Hunt will publish an emergency statement at 11am today, bringing forward tax and spending measures from the medium-term fiscal plan in a bid to support fiscal sustainability.

HM Treasury said he will also make a statement in the House of Commons this afternoon, expected to be at 3pm.

The government department said this follows the prime minister's statement on Friday, and further conversations between the prime minister and the chancellor over the weekend, to ensure sustainable public finances underpin economic growth.

It added the chancellor will then deliver the full Medium-Term Fiscal Plan to be published alongside a forecast from the independent Office for Budget Responsibility on 31 October.

HM Treasury said the chancellor had met with the governor of the Bank of England and the head of the Debt Management Office last night to brief them on these plans.

More on Economics / Markets

Five key takeaways from the Spring Statement 2025

Five key takeaways from the Spring Statement 2025

OBR growth, ISA reforms and defence

Sorin Dojan
clock 27 March 2025 • 4 min read
Bank of England halts interest rate cuts amid ongoing inflation

Bank of England halts interest rate cuts amid ongoing inflation

As priced in by markets

Sorin Dojan
clock 20 March 2025 • 2 min read
More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read

In-depth

MPS movers: Why Quilter, Tatton, Waverton came out on top

MPS movers: Why Quilter, Tatton, Waverton came out on top

Less launches expected as industry has ‘seen the peak’

Isabel Baxter
clock 05 March 2025 • 5 min read
Driving change in advice: The importance of visible female leadership

Driving change in advice: The importance of visible female leadership

Leveraging International Women’s Day to boost awareness of financial planning careers

Sahar Nazir
clock 06 March 2025 • 6 min read
How FCA could tackle review of 'opaque' MPS market

How FCA could tackle review of 'opaque' MPS market

Target market an expected focus as propositions have ‘questions to answer’

Isabel Baxter
clock 03 March 2025 • 4 min read