Yesterday’s 7am news was followed by a surprise additional item: the Government has announced a Budget date of Wednesday 6th November. The Treasury’s press release quotes the Chancellor as saying:
“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”.
The announcement raises a variety of issues:
“We would need to know at the beginning of the process whether [the Government] intended to design the policy package for a ‘deal’ or ‘no deal Brexit to help us decide on what basis we should produce the underlying pre-measures forecast”.
The Treasury’s press release says:
“The Government is committed to securing a deal and leaving on 31st October. In the event of no deal, the Government would act quickly to outline our approach and take early action to support the economy, businesses and households. This would be followed by a Budget in the weeks thereafter.”
That wording hints at a Budget later than 6 November if:
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