Government postpones 06 November Autumn Budget

The Chancellor of the Exchequer, Sajid Javid, has confirmed that the 06 November 2019 Autumn Budget will not be taking place.
In a letter to the Treasury Select Committee, Mr Javid said the planned budget will be cancelled in light of the delay to the UK’s withdrawal from the European Union and possible General Election.
The decision comes after MPs voted to delay the implementation of the new Brexit deal until the house has had time to properly scrutinise the plans.
Nevertheless, opposition leaders have still called for the Chancellor to bring forward financial forecasts, such as public borrowing and growth, which would highlight the trajectory of the UK economy.
Commenting on the Chancellor’s decision to cancel the Budget, shadow chancellor John McDonnell said the forecasts are “likely” to reveal a worsening global outlook.
“We suspect that one of the reasons for Dominic Cummings pulling the budget is that the government has panicked over the publication of accompanying forecasts, which clearly would have exposed the perilous economic situation as a result of its Brexit proposal,” he said.
“We are demanding that the OBR’s report be published and are exploring what parliamentary devices are available to secure this.”
Mr Javid, meanwhile, told the BBC’s Today programme that the decision was made in cooperation with the Prime Minister.
“The entire cabinet agreed when we had the cabinet meeting [on Thursday]. But the prime minister and I agreed well before that that the most important thing is going to be that we get Brexit done and then we have this general election,” he said.
An official date for the new Autumn Budget is now not expected until after a General Election has been confirmed and a new Government is formed.
Click here to read the Chancellor’s letter.
For help and advice preparing your business for Brexit, please get in touch with our expert team.

Awards and Accreditations

Get in touch

Get in touch

If you would like to see full details of our data practices please visit our Privacy Policy and if you have any questions please email contact@grunberg.co.uk.

x