Date set for statement
Javid aims for 6 November Budget if UK agrees Brexit deal
Sajid Javid; ‘We have to get on with governing’
Chancellor Sajid Javid has announced that his first Budget will take place on 6 November, assuming Britain leaves leave the European Union with a deal on 31 October.
Mr Javid said he will use the statement to unveil a substantial boost to spending on the country’s infrastructure. Analysts expect major investment in the rail and road network.
The announcement will allow Derek Mackay to go ahead with the Scottish Budget on 12 December.
However, Mr Javid said that in the event of no-deal, the government would “act quickly to outline our approach and take early action to support the economy, businesses and households. This would be followed by a budget in the weeks thereafter.”
On plans for 6 November statement, Mr Javid said: “This will be the first Budget after leaving the EU. I will be setting out our plan to shape the economy for the future and triggering the start of our infrastructure revolution.
“This is the right and responsible thing to do – we must get on with governing.”
Mr Javid has suggested he is prepared to borrow more in the future to take advantage of record-low borrowing costs.