Yahoo Finance Chancellor announces date for UK's first post-Brexit budget
The chancellor will hold his first budget on 6 November, just days after the UK is supposed to leave the European Union.
Sajid 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.”
On 6th November I'll deliver Britain's first Budget after Brexit and set out our plan to shape the economy and deliver our infrastructure revolution. https://t.co/Lca2V0RaaL
— Sajid Javid (@sajidjavid) October 14, 2019
Last week, former chancellor Philip Hammond warned that the government was being “reckless about our economic future” because of its planned spending spree ahead of a possible no-deal Brexit.
With day-to-day government spending set to rise real terms by 4.1%, or £13.8bn, next year, the proposed spending increases represents the largest rise in annual government spending in 15 years.
In September, Sajid Javid pledged £210m to help train and retain NHS nurses, adding to the growing list of spending commitments already made by the government. This came despite warnings from the Institute for Fiscal Studies that a no-deal Brexit could “blow a hole” in UK finances and force the chancellor to find billions in extra cash to meet spending promises.
The BBC says that in the event of a no-deal Brexit, the full budget would likely be delayed and the 6 November announcement would more likely be "a simple economic statement".
READ MORE: Sajid Javid gives £210m to nurses despite Brexit spending spree warning
