The UK government has delayed the announcement of its plan to repair the country's public finances by more than two weeks to November 17th, wanting to ensure the programme reflected the latest and most accurate economic forecasts.
"Our number one priority is economic stability and restoring confidence that the United Kingdom is a country that pays its way," chancellor Jeremy Hunt said.
He added the fiscal plan would now be a "full autumn statement".
The plan, which was previously scheduled for October 31st, will show debt falling over the medium term, Mr Hunt said.
The chancellor had discussed delaying the fiscal announcement with Bank of England governor Andrew Bailey and that the central bank chief had "understood" the reasons behind the decision.
The bank is expected to set out its interest rate decision on November 3rd.
"I'm willing to make choices that are politically embarrassing if they're the right thing to do for the country, if they're in the national interest," Mr Hunt said.
"We have a new prime minister, the prospect of much longer term stability for the economy and the country. In that context, a short two-and-a-half-week delay is the best way we will make sure that it is the right decisions we take." -Reuters
