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UK Chancellor to fast track tax, spending measures_我的网站

A |     London, Oct 17 (UNI) In a bid to help reassure jittery UK markets before they opened on Monday, the Liz Truss government announced Chancellor Jeremy Hunt will fast track both tax and spending measures.

Announcements by lunchtime and then a statement to the House of Commons will see many billions more in reversals of policy, to plug a hole in borrowing forecasts worth tens of billions, the BBC reported.

"The Chancellor will make a statement later today, bringing forward measures from the Medium-Term Fiscal Plan that will support fiscal sustainability," a Treasury spokesman said.

It is the latest of a series of U-turns on policies announced in the mini-budget. Many billions of pounds worth of tax and spending measures from his debt plan will be fast tracked as per the announcement that came a fortnight earlier than expected.

The Treasury will outline details of the plans later in the day, the BBC reported.

The pound gained around 0.5 per cent higher in early Asia trade on Monday to trade above $1.12.

The announcement of the 18 billion pound U-turn on corporation tax on Friday and the firing of Kwasi Kwarteng as chancellor did not calm rising UK government borrowing costs.

On Sunday, Hunt told the media that nothing was off the table.

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    Chen Xi, spokesperson for China's Ministry of National Defense China's Ministry of National Defense on Friday urged the Philippine side to immediately stop its illegitimate acts violating China's territorial sovereignty and maritime rights and interests, and stop its provocations and propaganda, and vowed to take firm and effective countermeasures against any provocative attempts to make waves and stir up troubles in the South China Sea.  
Chen Xi, a spokesperson for China's Ministry of National Defense, made the remarks in response to media inquiry about claims by Philippine National Maritime Council that drills by the People's Liberation Army (PLA) Southern Theater Command in the territorial waters and airspace of China's Huangyan Dao as well as its surrounding areas are "deemed illegal" after the Philippines deposited its so-called official nautical chart of Huangyan Dao and its surrounding maritime zones with the United Nations (UN). 
Huangyan Dao is China's inherent territory. China has continuously, peacefully and effectively exercised sovereignty and jurisdiction over Huangyan Dao, and is the only country entitled by international law to declare the baselines of the territorial sea of Huangyan Dao, Chen noted. 
Relevant actions of the Philippine side seriously violated China's territorial sovereignty, international law and the basic norms of international relations. They are illegal, null and void, Chen said. 
Chen noted that PLA's exercises stand as a serious warning against violations and provocations by the Philippine side. These are necessary and legitimate measures to safeguard China's sovereignty over Huangyan Dao and China's rights and interests.
In fact, since its independence in 1946, the Philippines has expanded its claims of territory and jurisdictional waters through domestic legislation while claiming following international law. Its behavior has led to wide wariness and dissatisfaction as well as resolute opposition from other littoral countries to the South China Sea, the spokesperson added. 
Global Times 
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