Kwasi Kwarteng will bring forward fiscal plan to Halloween in another U-turn

Chancellor bows to pressure after senior Tories called on him to reassure spooked markets

Kwasi Kwarteng will bring forward the government’s medium-term fiscal plan from November to the end of October following calls to reassure the markets, it has emerged.

The chancellor said in a letter to Mel Stride, Tory chairman of the Treasury select committee, that the spending and borrowing plan would be announced on 31 October – rather than 23 November as promised.

The Treasury confirmed the move to bring forward the publication of the financial strategy – and the Office for Budget Responsibility (OBR) assessment of government plans – to Halloween.