British finance minister Jeremy Hunt will focus his Nov. 22 funds replace on decreasing inflation and doesn’t count on forecasts to indicate the federal government has extra cash to spend, he advised Bloomberg News in an interview broadcast Monday.
“The one thing I can absolutely say is that our focus in the autumn statement will be on bringing down inflation and delivering the prime minister’s goal to halve inflation and the Bank of England’s target to get it down to 2%,” he stated.
Asked whether or not he anticipated the federal government’s fiscal headroom to have elevated when the most recent unbiased forecasts are printed alongside his assertion, he stated: “I believe it’s unlikely as a result of for the reason that spring funds… we’ve seen inflation stickier than was forecast on the time and meaning debt curiosity funds are greater.
“When you’re trying to bring down inflation, you have to be really careful not to pump extra money into the economy, as much as you would like to – not to pump extra money into people’s pockets – because that can push up prices and keep inflation higher for longer.”
(Reporting by William James; Editing by Sachin Ravikumar)
