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Javid sets Budget 2019 date
The Chancellor of the Exchequer has announced he is planning to hold a Budget on Wednesday 6 November 2019, as the ‘first Budget after leaving the EU’.
Political commentators have stressed that in the event of a no-deal Brexit, the full Budget would be delayed and the 6 November announcement would be ‘a simple economic statement’. Shadow Chancellor John McDonnell has labelled the announcement as an ‘electioneering stunt rather than a Budget’.
There are expectations that the chancellor could relax the government's borrowing rules to give him more spending power, with Javid having already suggested that he is prepared to borrow more to take advantage of current record-low borrowing costs, and has previously said he plans to review the borrowing rules.
Javid said: “This will be the first Budget after leaving the EU. I will be setting out our plan to shape the economy for the future and triggering the start of our infrastructure revolution. This is the right and responsible thing to do – we must get on with governing.”
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