Budget 2019 – a date for your diary!

Budget,

With the UK due to leave the EU on the 31st October, the date and content for the Budget 2019 has been the topic of some speculation. We do now have the first hint of some clarity, as Chancellor Sajid Javid has announced the key date.

He will present ‘the first Budget after leaving the EU’ on the 6th November 2019.

This will also be Sajid Javid’s first Budget since becoming Chancellor in July. He has said that it will include the Government’s plans to ‘shape the economy for the future’.

The possible content of the Budget will be limited by the outcome of the continued wrangling between the UK and EU leaders. The Office for Budget Responsibility (OBR) usually has a minimum of ten weeks to prepare for a Budget, and at this stage have no details of any Exit deal that may be secured.

Should we leave the EU without a deal, speculation suggests that the Budget will be focussed on providing support to the Economy, businesses and households. There is also the suggestion that the Budget may well be an opportunity to pave the way for an election. If that is the case, there may well be announcements to boost infrastructure, spending and some taxes.

Whatever the content, our Budget summary will come out to clients as soon as possible, and a full summary will be available on the website shortly after Mr Javid returns to his seat. If you’d like to receive our summary, we’ll happily send you a copy; just let us know. You can also follow our live tweets to stay up to date during the Chancellor’s speech.