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UK's Sajid Javid plans October giveaway Budget - FT

Britain's Chancellor of the Exchequer Javid walks outside 10 Downing Street in London

(Reuters) - British Finance Minister Sajid Javid is planning a pre-election giveaway budget in the week of October 21 if the UK strikes a Brexit deal with the European Union and parliament votes for the accord, the Financial Times reported on Friday.

Javid cannot announce a date yet for the pre-election giveaway budget as the plan is dependent on reaching a deal so that any Office for Budget Responsibility forecasts are positive, the newspaper said https://www.ft.com/content/59e16a8e-dbaf-11e9-8f9b-77216ebe1f17, adding that this will allow him to cut taxes or increase infrastructure spending.

The plan would also let the finance minister borrow more money as it would coincide with a new and looser fiscal framework, the report added.







(Reporting by Maria Ponnezhath in Bengaluru; Editing by Chizu Nomiyama)