Delaying the fiscal statement is a wise move

The date of the fiscal statement has changed again. The Treasury has announced that the update – now being billed as an ‘Autumn Statement’ – will be pushed back from 31 October to 17 November, just six days earlier than the original date planned by Kwasi Kwarteng. Chancellor Jeremy Hunt said the delay means it will be based on the ‘most accurate possible’ economic forecasts.

A hold-up was expected once it became clear that Rishi Sunak was going to emerge as the next Tory leader and Prime Minister. Penny Mordaunt was thought to have told chancellor Jeremy Hunt that his statement would go ahead as normal if she won the leadership race. But it was always assumed that Sunak (not only a former chancellor, but chosen by his fellow MPs to lead because of his credibility with the economy) would want to put his own stamp on whatever was announced.