UK’s Hammond to scrap fiscal surplus target - WSJ

As per Wall Street Journal (WSJ), UK’s Chancellor of the Exchequer Philip Hammond is set to confirm that he is abandoning the target of achieving surplus at the end of the current parliament in 2020.

According to advanced excerpts of a speech due later today, “The British people elected us on a promise to restore fiscal discipline. And that is exactly what we are going to do. But we will do it in a pragmatic way that reflects the new circumstances we face.”