Kwasi Kwarteng has buckled under the pressure to bring forward his medium-term fiscal plan and publish it alongside independent economic forecasts on Halloween.
The Treasury confirmed the move to bring forward the publication of the financial strategy and the Office for Budget Responsibility (OBR) forecast from 23 November to 31 October.
In a letter to Commons Treasury Committee chair Mel Stride, Mr Kwarteng said he hopes “this short extra delay is acceptable”.
It comes after Mr Kwarteng was urged to “act now” and bring forward his fiscal plan in the wake of new analysis which suggested more than 3,000 households were facing “staggering hikes” in their mortgage payments everyday.
The Liberal Democrats warned of a “mortgage ticking time bomb”, as the party predicts that roughly 168,000 more homeowners will have been hit by a new higher rate by the time chancellor releases medium-term fiscal plan on 23 November.
In other news, Liz Truss has sent a signal of her intent to bridge the divide blighting the Tory party as she handed a government job to Greg Hands, a Conservative who backed her rival Rishi Sunak in the leadership race.
