LONDON- The British government is yet to confirm if the March 11 budget shall go ahead in time or if it will adhere to the fiscal rules already in place.
All that a spokesman confirmed was that budget preparations were ongoing.
British PM Boris Johnson appointed new finance minister Rishi Sunak after Sajid Javid gave in his resignation on the rejection of plan to replace his advisers.
Sunak is a former Goldman Sachs banker and a political novice. Johnson announced a new advisory structure’s creation to give his office a bigger role in influencing the finance ministry.
There is a chance that higher spending might be on the way with Johnson pushing for big infrastructure outlay under a more pliant chancellor to address the economic imbalances and pay to upgrade public service.
“We will continue to have a clear fiscal framework and … that is confirmed at budget. Preparations for the budget continue at pace.”
-PM Boris Johnson’s spokesman
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
