Sajid Javid to deliver first Budget as Chancellor on 6 November - if there is a Brexit deal
2 min read
Sajid Javid will deliver his first Budget as Chancellor on 6 November - but only if the UK leaves the EU with a deal on 31 October.
In a surprise announcement, the Treasury said the setpiece event would happen within days of the scheduled Brexit date.
However, those plans will be scrapped if Boris Johnson is forced to seek another extension beyond Hallowe'en.
Instead, the Chancellor will rip up that plan and deliver an emergency Budget within weeks if a deal cannot be secured.
A Treasury source said: "If there's not a deal, we will move quickly to outline our approach to the economy, with a full Budget to follow in the weeks after."
He would be expected to give more details on the Government's approach to no-deal in the run-up to 31 October.
On the 6 November plan, Mr 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."
UK and EU negotiators are still in talks aimed at securing a deal in time for a crunch EU summit later this week.
However, hopes are fading that both sides will be able to reach an agreement in time, meaning the Prime Minister could be forced to seek a delay until 31 January.
At the Conservative conference, Mr Javid hinted that he could scrap inheritance tax in a radical shake-up.
He said: "First of all we've already made some sensible reforms on that tax.
"But I hear what you're saying, you're not the only one, I shouldn't say too much now, but I understand the arguments against that tax.
"I do think that when people have paid taxes already through work, or through investments and capital gains and other taxes, that there's a real issue with asking them on that income to pay taxes all over again.
"Sensible changes have already been made, but it is something that’s on my mind."
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