UK Treasury chief to publish forecasts sooner amid turmoil

By SYLVIA HUI
Associated Press

LONDON (AP) — Britain’s Treasury chief says he will bring forward the publication of the government’s full fiscal statement after facing widespread criticism for not providing details about a multibillion-pound, tax-cutting stimulus package he announced last month. Kwasi Kwarteng had been expected to publish details of his financial strategy on Nov. 23, two months after he first unveiled plans that included 45 billion pounds ($50 billion) in tax cuts to be paid for by government borrowing. That plan sparked days of turmoil on financial markets and sent the British pound tumbling to record lows against the U.S. dollar. Kwarteng now says he will publish economic forecasts on Oct. 31.