Chancellor Sajid Javid has announced his first Budget will be on the 11th March 2020. It will be his first, and the first post-Brexit Budget too, given that we will leave the EU on the 31st January. Javid has said it will concentrate on ‘delivering world-class public services and levelling up the whole country.’
The Budget will prioritise the environment, according to Javid, and include more announcements to enhance public services and challenge the cost of living.
The Treasury has promised an update to the Charter of Fiscal Responsibility at the same time as the Budget. The purpose of this Charter is to improve the transparency of the government’s fiscal policy framework.
Javid said his speech would ‘deliver on the government’s promises on tax, to help tackle the cost of living for hard-working people’. He also promised to ‘make good on the commitment to level up and spread opportunity, including by investing billions of pounds across the country.’
It is time to put the divisions of the last three years behind us, he said. ‘With this Budget we will unleash Britain’s potential – uniting our great country, opening a new chapter for our economy and ushering in a decade of renewal.’
The announcement came as Javid was scheduled to give his cabinet colleagues an update on the performance of the economy.
It may be a Budget that enables the Government to make some painful decisions, as has been the case in the past where a Government has a healthy majority, and hopes that by the end of Parliament, the difficult decisions have born fruit.
As usual, we will ensure that all clients are updated on the Budget content as quickly as possible, usually in timer the email to be perused over the following days’ breakfast. We will also of course be in touch directly with anyone who we feel should make any key decisions as a direct result of the announcements. We will also cover the speech on our Twitter feed, so if you’re out and about and unable to listen you can follow us and stay up to date.