UK PM Rishi Sunak may delay fiscal statement: Report

New British Prime Minister Rishi Sunak is considering delaying next week's planned fiscal statement, in order to fill a hole of £40 billion pounds ($46 billion) in the UK's finances, The Times reported.

Sunak is expected to meet finance minister Jeremy Hunt on Wednesday to discuss his proposals to increase taxes and squeeze public spending, the report said.

The statement could also be delayed by a couple of days so it is presented before November 3, when the Bank of England is set to announce its plans for further interest rate hikes, the report added.

It could even be pushed back again and turned into a full budget.

This comes after former PM Liz Truss' spokeswoman said last week that her successor would decide whether to proceed with a fiscal plan scheduled for October 31.

Hunt reversed Truss' economic growth plan on October 17, after several weeks of turmoil in UK politics and markets, which was soon followed by her resignation a few days later.

Sunak, who became Britain's third prime minister in two months, quickly re-appointed Hunt as his Finance Minister, in a move designed to tame markets.

After his appointment, Hunt explained that the government would work to restore stability, confidence and long-term growth, while also acknowledging the tough times ahead.

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