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Introduction

Chancellor brings forward further medium-term fiscal plan measures

As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a new Prime Minister and Chancellor launched a new agenda, 'The Growth Plan'.

Three weeks later, after huge turmoil, a reversal of most of the elements of that plan and a new statement planned for 31 October. This is now being referred to as the Medium-Term Fiscal Plan, where the Chancellor will publish the government's fiscal rules alongside an Office for Budget Responsibility forecast, together with what are described as 'further measures'.

The changes outlined on 17 October are designed to ensure the UK's economic stability and provide confidence in the government's commitment to fiscal discipline. Below, we have outlined the current position.

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Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.