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UK finance minister declines to comment on fall in sterling

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UK finance minister declines to comment on fall in sterling By Reuters

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Economy 46 minutes ago (Sep 23, 2022 16:31)

© Reuters. The Chancellor of the Exchequer Kwasi Kwarteng speaks during the Government’s Growth Plan statement at the House of Commons, in London, Britain, September 23, 2022. UK Parliament/Jessica Taylor/Handout via REUTERS

LONDON (Reuters) – British finance minister Kwasi Kwarteng said it was a “very good day for the UK” on Friday, after he set out tax cuts and huge increases in borrowing in a statement that floored financial markets, with sterling and British government bonds in freefall.

Asked whether the fall in sterling was good for the economy, he said: “I don’t comment on market movements.”

UK finance minister declines to comment on fall in sterling

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