UK fiscal watchdog to release analysis of tax-cutting plan

LONDON (AP) — The U.K.’s Office of Budget Responsibility says it will deliver an initial analysis of the government’s economic plan on Oct. 7 following a meeting Friday with Prime Minister Liz Truss. The pledge came after Truss and Treasury chief Kwasi Kwarteng met with OBR officials amid efforts to ease concerns about unfunded tax cuts that have unleashed turmoil on financial markets. The meeting was significant because it was the government’s failure to publish the OBR’s analysis of its tax-cutting plans that spooked investors, sending the pound to a record low against the dollar earlier this week and forcing the Bank of England to intervene in the bond market to protect pension funds.