Published: Fri, February 21, 2020
Markets | By Otis Pena

UK Budget date kept at 11 March

UK Budget date kept at 11 March

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Chancellor of the Exchequer Rishi Sunak said he is preparing to deliver the United Kingdom budget as planned on March 11, an announcement that ends days of speculation that his sudden appointment to the post last week would force a delay.

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Following suggestions the budget could be delayed to give Sunak more time to prepare for the key event, the new finance chief added that the annual update on government tax and spend plans "will deliver on the promises we made to the British people - levelling up and unleashing the country's potential".

They will meet for budget talks for the first time tomorrow to flesh out Mr Johnson's pledge to "level up" the United Kingdom economy, as reported by The Times.

The former Chancellor nailed his colours to the mast by "liking" a tweet warning that Britain is already "overtaxed" with the highest tax burden for a generation.

"It was evident that he was a "fiscal pragmatist", i.e. he believed in the notion that taxes are created to raise as much money as possible for the Treasury, rather than being a cunning, socialist device to "redistribute" wealth or penalise entrepreneurs", he says.

Lord Lamont hoped Mr Sunak would "find ways to make economies, ensure infrastructure projects are properly managed and keep spending under sufficiently tight control so that at least we avoid penal tax increases".

However, Sunak, writing on Twitter, has confirmed the date will remain the same, with him "cracking on with preparations".

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