News

News | Published January 07 2020

Javid sets March 11 date for first Budget

Chancellor Sajid Javid has announced that his first Budget in post will take place on March 11, 2020, with a promise to invest billions “across the country”.

The March 11 date comes after Javid had called off an initial Budget set for November 6, 2019 to accommodate the December general election.

Javid said that the government's spending strategy will “prioritise the environment” and doubled down on plans to invest in public services through low borrowing rates.

Speaking to the BBC, Javid promised that the Budget will pave the way for an “infrastructure revolution” in the UK.

He said: "we set out in our manifesto during the election how we can afford to invest more and take advantage of the record low interest rates that we are seeing but do it in a responsible way.

"There will be up to an extra £100 billion of investment in infrastructure over the next few years that will be transformative for every part of our country.

"In the Budget, we will be setting out how we are going to take advantage of all the huge opportunities that Brexit will bring. Also, how we are going to help hard-working people in particular - especially with the cost of living - and how we are going to level up across the entire country."

Labour shadow chancellor John McDonnell was sceptical of the government's investment plans, hitting out at the Budget's "recklessness" on climate change.

McDonnell said: "After a decade of wrecking the economy, we can have no confidence in a Tory government delivering the scale of investment needed for renewal, especially with a no-deal Brexit still on the table.

"The lack of foresight in not focusing this budget on the threat of climate change is also criminally irresponsible. This will be a budget of climate change recklessness, not renewal.”


Related Stories

Authored by

Scott Challinor
Business Editor
@theparlreview
January 07 2020

Featured Organisations

UENI

Hammersmith-based startup UENI is taking small, service- based businesses online, where most customers now search for them. Co-founders Anh Pham Vu an... Read more

Harwood Park Primary School

Harwood Park is a primary school based in Heywood, Rochdale, that has undergone dramatic improvements over recent years. Serving a student body from a... Read more

Independent Living Solutions

Independent Living Solutions, also known as ILS, are specialists in clinical case management and rehabilitation within the medicolegal sector. They su... Read more

Latest News

Ministers open-minded about vaccine passports