Chancellor Sajid Javid to give his first UK Budget in November
UK budget date revealed to be six days after Brexit – as Chancellor promises to increase public spending by £13 billion
The next UK Budget will be held on Wednesday 6 November, six days after the planned exit date from the European Union, according to the Chancellor of the Exchequer, Sajid Javid.
Mr Javid said the Budget will set out a “plan to shape the economy for the future” and trigger the start of an “infrastructure revolution.”
This will be Mr Javid’s first Budget since he became chancellor in July.
The government says that in the event of a no-deal Brexit, it would “act quickly” to announce emergency measures, and “take early action” to support the economy, businesses and households.
The Office for Budget Responsibility (OBR), which produces economic forecasts for the Budget, would usually get 10 weeks’ notice to prepare.
However, the OBR has said while it is able to prepare some information in advance, its forecasts would be based on the UK securing a Brexit deal.
In August’s spending review Mr Javid revealed the biggest increase in day-to-day spending in 15 years, outlining £13.8 billion of investment in sectors including health, education and policing.
The Budget is a yearly announcement on the government’s plans for tax and spending for the coming financial year, which will start in April 2020.
Tokenised securities are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how tokenised securities and leverage work and whether you can afford to take the high risk of losing your money. Nothing in the above article should be regarded as a recommendation to trade generally, to trade on a particular platform or to trade in a particular asset. Asset prices can go down as well as up and past performance is not a guide to future performance. Investors and traders should thoroughly research an asset or strategy before making any trading or investment decision and if necessary seek professional advice.