Budget 2019 : Cancelled

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November 12th 2019
Tax Week 32
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Budget 2019 : Cancelled

Sajid Javid scraps the November 6th Budget as a General Election becomes more likely.

Chancellor Sajid Javid had announced Budget 2019 for November 6th, but with a three-month extension in the works for leaving the EU and Boris Johnson vying for a December General Election, plans have changed.

The Budget is not only an opportunity to set new fiscal policies but also the official release date for OBR forecasts of the state of the Economy. By deferring the Budget, these figures will not be aired for voters prior to an election.

The most recent OBR publication was in March 2019, but since then there has been huge inconsistency in UK politics, stalling the economy and decision-making across the country.

Since 2017 Budgets have been held in the Autumn, with a short 'Spring Statement' earlier in the year. Javid is now around six months from when the Spring Statement would be delivered but is still planning to give a full Budget. If a December 12th General Election is on the cards, then a Budget would be between January and March next year.

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