Autumn Budget date announced
14th October 2019
The government's yearly announcement on its plans for tax and spending for the coming financial year, the date of which is normally announced in September, will be Mr Javid's first Budget since becoming Chancellor in July. If the UK does leave the European Union on the scheduled 31 October departure date, it will be the first post-Brexit Budget, where plans to overhaul the UK's infrastructure and boosted spending on schools and hospitals will be outlined.
Mr Javid stated "This is the right and responsible thing to do - we must get on with governing" and it would detail the government's plans to "shape the economy for the future".
The Treasury has stated if the UK does exit the EU without a deal it would “take early action to support the economy, businesses and households”. It said this would likely push back the Budget to “the weeks thereafter”.
If Boris Johnston is forced to seek an extension to Britain’s EU membership and a Budget is still held, the economic forecasts based on a Brexit deal are deemed to be inconsistent with the facts on the ground.
Shadow chancellor John McDonnell stated that a Budget would be “more of an electioneering stunt than a Budget to rebuild our stalling economy and reset the direction of our country”.
Today also sees the delivery of Queen’s Speech, which outlines the government’s domestic agenda.