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When could the Budget be? (2/2)

UK FISCAL
  • Given that the Labour party wanted to provide as much certainty to businesses as possible and also stated that only one major fiscal event would be held annually, a comprehensive Budget - including plans for all of next year's allowances - would be unlikely before Wednesday 30 October (or possibly even 6/13 November).
  • Note that holding a Budget later does not prohibit isolated announcements of spending plans - but after the market reaction to the Truss Budget, the new government will be wary of announcing new spending plans that appear unfunded.
  • However, those dates would still be 16-18 weeks away from now so there is a possibility that the government does decide to interrupt the party conference season and hold its first Budget on 18 September in order to benefit from the honeymoon period of goodwill from the electorate.
  • Reeves has stated that the date of the Budget will be confirmed before the summer recess (with reports that the current session of parliament will sit until 31 July).
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  • Given that the Labour party wanted to provide as much certainty to businesses as possible and also stated that only one major fiscal event would be held annually, a comprehensive Budget - including plans for all of next year's allowances - would be unlikely before Wednesday 30 October (or possibly even 6/13 November).
  • Note that holding a Budget later does not prohibit isolated announcements of spending plans - but after the market reaction to the Truss Budget, the new government will be wary of announcing new spending plans that appear unfunded.
  • However, those dates would still be 16-18 weeks away from now so there is a possibility that the government does decide to interrupt the party conference season and hold its first Budget on 18 September in order to benefit from the honeymoon period of goodwill from the electorate.
  • Reeves has stated that the date of the Budget will be confirmed before the summer recess (with reports that the current session of parliament will sit until 31 July).