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When will the Budget be? | 7
It’s never been harder to predict the twists and turns
of politics than in 2019/20, but there are certain
educated assumptions we can make.
First, with the election on 12 December, the earliest
a Budget is likely to happen is January 2020, even if
Parliament’s Christmas recess is shorter than usual.
It’s also likely that we’ll get a Budget at the earliest
possible date in the new year.
A Conservative government will be keen to pick
up where it left off, probably with Chancellor Sajid
Javid dusting off the speech he’s already written.
Alternatively, Labour’s Shadow Chancellor John
McDonnell or Liberal Democrat Ed Davey might
end up taking possession of the red briefcase.
In that case, they’ll be keen to rip it all up and
start again in a bid to establish a clear difference
between their fiscal policies and what came before
at the earliest opportunity.
WHEN WILL THE
BUDGET BE?
In addition, whoever is in power will want the
maximum possible time between introducing
changes in tax law and the start of the fiscal
year on 6 April 2020.
With all that in mind, you might want to pencil a
question mark next to 22 January on your 2020
calendar in the event of an emergency Budget.
On the other hand, there is a possibility that the new
Budget will take the March slot recently reserved
for the Spring Statement and, indeed, some
commentators are assuming this will be the case.
After all, even Gordon Brown’s first Budget back in
1997, reckoned to be particularly hot on the heels of
the May election, didn’t take place until July.
Whenever the next Budget takes place, rest assured
that we’ll have a detailed report on the contents,
including any details buried in the paperwork.