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Halloween Budget pushed back to 17 November

Paloma Kubiak
Written By:
Paloma Kubiak
Posted:
Updated:
26/10/2022

The government has confirmed the Autumn Statement will now take place in November.

In a statement from the Treasury, it read: “Prime Minister Rishi Sunak and Chancellor Jeremy Hunt have agreed the Autumn Statement will be delivered on Thursday 17 November with an OBR forecast.

“It will contain the UK’s medium term fiscal plan to cut public spending on a sustainable footing, get debt falling and restore stability.”

The economic plan ­– dubbed the Halloween Budget – was due to take place on Monday 31 October as confirmed by the previous Chancellor Kwasi Kwarteng.

However, there has been a lot of back and forth with the date as it was originally scheduled to take place on Wednesday 23 November.

It comes just a day after Sunak was officially appointed Prime Minister, and he kept Hunt in the Chancellor position after Liz Truss’ cabinet reshuffle.

Since it became apparent Sunak was the favourite to take the top job, the pound and FTSE climbed and gilt yields retreated, undoing part of the disastrous effect of September’s mini Budget which cost both Kwarteng and Truss their posts.