Search ForexCrunch

British finance minister Philip Hammond recently announced that he brought forward the budget plan, which is usually delivered in November, to October 29 as the government is preparing for the Brexit summit in November.

“I’m pleased to announce the Budget will take place on 29 October. I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy,” Mr Hammond tweeted out.

Reporting on this development, “he is under pressure from many lawmakers in his Conservative Party to ease his grip on public spending to counter the frustration of many voters with nearly a decade of spending cuts to many areas of public services,” Reuters wrote.