UK Chancellor Philip Hammond has called an early Budget for political reasons related to the country’s Brexit negotiations with the European Union (EU).
The Budget, which will take place on Monday 29 October 2018, is unusually early. It is also unusual in occurring on a Monday rather than the traditional Wednesday.
The reason for the shift is that the date falls after a vital Summit, which is due to take place on 18 October and could see a Brexit deal being agreed. If not agreed, a subsequent November Summit could be arranged to further progress discussions.
The Chancellor announced the move in a tweet, saying: “I’m pleased to announce the Budget will take place on 29 October. I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy.”
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UK Chancellor Philip Hammond has called an early Budget for political reasons related to the country’s Brexit negotiations with the European Union (EU).
The Budget, which will take place on Monday 29 October 2018, is unusually early. It is also unusual in occurring on a Monday rather than the traditional Wednesday.
The reason for the shift is that the date falls after a vital Summit, which is due to take place on 18 October and could see a Brexit deal being agreed. If not agreed, a subsequent November Summit could be arranged to further progress discussions.
The Chancellor announced the move in a tweet, saying: “I’m pleased to announce the Budget will take place on 29 October. I’ll set out how our balanced approach is getting debt falling while supporting our vital public services, and how we are building a stronger, more prosperous economy.”
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Contingency planning for Brexit
What will a 'no-deal' Brexit mean for UK business?
