UK finance minister declines to touch upon fall in sterling

The Chancellor of the Exchequer Kwasi Kwarteng speaks in the course of the Authorities’s Progress Plan assertion on the Home of Commons, in London, Britain, September 23, 2022. UK Parliament/Jessica Taylor/Handout by way of REUTERS

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LONDON, Sept 23 (Reuters) – British finance minister Kwasi Kwarteng mentioned it was a “superb day for the UK” on Friday, after he set out tax cuts and big will increase in borrowing in an announcement that floored monetary markets, with sterling and British authorities bonds in freefall.

Requested whether or not the autumn in sterling was good for the economic system, he mentioned: “I do not touch upon market actions.”

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Reporting by Muvija M, Enhancing by Kylie MacLellan

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