Government announces “Medium-Term Fiscal Plan” on 23 November 2022 and Spring Budget 2023
*The announcement was brought forward to 17 October following the appointment of a new Chancellor, Jeremy Hunt – read more here*
The Government has just announced that the Chancellor Kwasi Kwarteng will set out a ‘Medium-Term Fiscal Plan’ on Wednesday 23 November.
Following Friday’s ‘mini-budget’, HM Treasury say Cabinet Ministers will announce further supply side growth measures in October and early November, including changes to the planning system, business regulations, childcare, immigration, agricultural productivity, and digital infrastructure.
Next month, the Chancellor will, as part of that programme, outline regulatory reforms to ensure the UK’s financial services sector remains globally competitive.
He will then set out his Medium-Term Fiscal Plan on 23 November, and has request that the Office for Budget Responsibility (OBR) sets out a full forecast alongside this on the same day.
The Chancellor also confirmed that there will be a Budget in the Spring, with a further OBR forecast.