Britain’s Liz Truss to hold emergency talks with budget watchdog

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Britain’s Prime Minister Liz Truss and Britain’s Chancellor of the Exchequer Kwasi Kwarteng.

Dylan Martinez | Afp | Getty Images

The OBR had prepared a general economic forecast ahead of the mini-budget on Sept. 23, but the U.K. Treasury opted not to publish it, according to the BBC.

Kwarteng said a full forecast would be published “before the end of the year” in his announcement to fellow lawmakers, and a full budget statement is now expected Nov. 23.

Fund manager says timing and size of UK spending plan 'unnecessary and ill-judged'

The IMF has since given a damning verdict of the measures laid out in the mini-budget, saying they will “likely increase inequality” and that the U.K. government should “consider ways to provide support that is more targeted and re-evaluate the tax measures, especially those that benefit high income earners.”

A growing number of economists and investors have also slated the plans, including the founder of Bridgewater, one of the world’s largest hedge funds, Ray Dalio, who said the proposed measures suggest government “incompetence.”

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