In a meeting with finance industry bosses shortly before the central bank’s intervention, Britain’s new chancellor underlined the government’s “clear commitment to fiscal discipline,” a Treasury readout of the meeting said. The meeting was attended by bosses from firms including JPMorgan and Bank of America, the readout said.
Kwarteng told the meeting that the government was working closely with the governor of the Bank of England and forecasters at the Office for Budget Responsibility on the medium-term fiscal plan due November 23, the readout said. “Ahead of the upcoming Big Bang 2.0 deregulatory moment for financial services, the chancellor discussed potential sectoral reforms that are targeted at boosting growth, generating investment, and delivering higher wages across the UK.
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