UK Finance Minister Kwasi Kwarteng | Photo credits: HM Treasury / CC BY-NC-ND 2.0
LONDON, Sept 23 (Reuters) – Britain’s Finance Minister Kwasi Kwarteng said on Friday the government would present a plan to reduce the country’s debt ratio over the medium term.
“In due course, we will publish a medium-term budget plan setting out in more detail our responsible fiscal approach, including how we plan to reduce debt as a percentage of GDP over the medium term,” he told parliament. during the presentation of the new budget forecasts of the government of Liz Truss.
He added that the Office for Budget Responsibility (OBR, the independent public financial monitoring body) would publish detailed economic and budgetary forecasts before the end of the year, including the cost of the measures announced on Friday.
Without delay, the OBR announced for its part on Friday that it had raised its forecast for public debt issues for the current financial year by 72.4 billion pounds sterling (82.8 billion euros), to bring it up to 234.1 billion pounds. (Report David Milliken and Alistair Smout, French version Marc Angrand, edited by Jean-Stéphane Brosse)