The Chancellor of the Exchequer Sajid Javid has today (7 January) announced the next Budget will take place on Wednesday 11 March.
He will provide an economic update to the Cabinet today, before updating Parliament during Treasury oral questions.
Javid is expected to announce plans for the March Budget to “open a new chapter for the UK’s economy and prepare it for the decade ahead”, “deliver on the government’s promises on tax, to help tackle the cost of living for hard-working people” and “make good on the commitment to level up and spread opportunity, including by investing billions of pounds across the country”.
During the Budget, Javid will update the rules of the Charter of Fiscal Responsibility in an attempt to take advantage of low interest rates to “invest properly and responsibly”.
The government has announced the Budget will prioritise the environment, public services and the cost of living.