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While calls of the UK Chancellor Sajid Javid sparking fresh snap general election speculation are crossing wires via Huffington Post, British Finance Minister offers more details of is scheduled spending plan.

Key quotes:

  • Will announce increase in public spending on schools, police and health on September 04.
  • Sept 4 spending round will be delivered within current fiscal rules.

FX implications

The news shows no immediate market impact but is likely offering additional uncertainty surrounding the UK politics. Normally, spending reviews cover three years rather than one but the Johnson government is keen to send a message that it has new money after nearly a decade of Tory austerity, says the Huffington Post.