UK's Kwarteng to set out medium-term fiscal plan, forecasts on Nov. 23
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LONDON (Reuters) - British finance minister Kwasi Kwarteng will set out a "Medium-Term Fiscal Plan" on Nov. 23, alongside growth and borrowing forecasts from the Office for Budget Responsibility, Britain's finance ministry said on Monday.
"The Fiscal Plan will set out further details on the government's fiscal rules, including ensuring that debt falls as a share of GDP in the medium-term," the finance ministry said.
Kwarteng sent sterling and government bonds into freefall on Friday with a so-called mini-budget that was designed to grow the economy by funding tax cuts with huge increases in government borrowing.
Earlier on Monday, the pound plunged to a record low against the dollar and British bond prices collapsed again.
"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," the Treasury said.
"Next month, the chancellor will, as part of that programme, outline regulatory reforms to ensure the UK’s financial services sector remains globally competitive."
(Reporting by David Milliken; Editing by Kate Holton)
