The Budget will go ahead on 11 March as planned, new chancellor Rishi Sunak has confirmed.
Question marks were raised over the timing of the annual tax and spending statement after Sunak’s predecessor Sajid Javid walked out of the Treasury with just 27 days to go.
As the former chief secretary was hurriedly appointed to his ex-boss’s job, Downing Street was unable immediately to confirm that the Budget would go ahead on the advertised date.
Mr Sunak is due to meet Boris Johnson in Whitehall on Wednesday to discuss the Budget, amid expectations that the prime minister wants more leeway to borrow large sums to fund infrastructure projects in the North.
Observers suggested that the long-awaited statement to the Commons - already postponed from the autumn because of the general election - might be further delayed to allow Mr Johnson time to tear up the spending rule introduced by Mr Javid, which requires the govenrment to running a balanced current budget within three years.
But Mr Sunak put speculation to rest with a tweet saying: “Cracking on with preparations for my first Budget on March 11. It will deliver on the promises we made to the British people – levelling up and unleashing the country’s potential.”
