Downing Street has confirmed the planned October 31 fiscal statement will be delayed to November 17.
According to a Cabinet readout: "The Chancellor updated the Cabinet on the timing of the fiscal event. The Prime Minister and the Chancellor agreed that the fiscal event would now take place on the 17 November, and would be an Autumn Statement.
"He said it is important to reach the right decisions and there is time for those decisions to be confirmed with Cabinet. The Autumn Statement will set out how we will put public finances on a sustainable footing and get debt falling in the medium term and will be accompanied by a full forecast from the Office for Budget Responsibility."
Foreign Secretary James Cleverly hinted on Wednesday that the new Prime Minister may put back the medium-term fiscal plan so he can ensure it "matches his priorities". Mr Cleverly argued that a "short delay" to the plan and independent forecasts that had been brought forward to calm the spooked financial markets would not be a "bad thing at all".
The Foreign Secretary also sought to justify the criticised re-appointment of Ms Braverman to the role she was forced to quit from last week over a breach of the ministerial code. He argued that she has now apologised for a "mistake" after sharing an official document and denied her re-appointment was part of a deal to buy Mr Sunak her support for the Tory leadership.
Mr Sunak will take his first Prime Minister's Questions at midday on Wednesday, facing Labour leader Sir Keir Starmer.
Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here
