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MNI BRIEF: Hunt To Continue As UK Chancellor of the Exchequer

(MNI) London

New UK Prime Minister Rishi Sunak is leaving Jeremy Hunt in place as Chancellor of the Exchequer, the finance minister, it was announced Tuesday.

Hunt, who has been in position since replacing Kwasi Kwarteng after the collapse of the Sept 23 growth plan, has been working on the Budget and Medium Term Fiscal Plan, scheduled for Oct 31. His re-appointment strongly indicates that the work on filling in the reported GBP72 billion gap required to get borrowing as a share of GDP will continue, with announcement of the fiscal tightening arithmetic looking likely before the Bank of England Monetary Policy Committee's Nov 3 policy decision.

Sunak, who replace Liz Truss as the UK's Prime Minister Tuesday, is currently shaping his own government, reshuffling the Cabinet and junior ministerial positions.

MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
Policy NewsHomepageFiscalBriefCEEMEABank Of England (BOE) Market NewsPolicy StoryUKStoryRegion
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MNI London Bureau | +44 203-586-2223 | david.robinson@marketnews.com
Policy NewsHomepageFiscalBriefCEEMEABank Of England (BOE) Market NewsPolicy StoryUKStoryRegion
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