LONDON (Reuters) – Finance minister Sajid Javid said on Monday he planned to deliver Britain’s first post-Brexit budget statement on Nov. 6, less than a week after the country’s deadline for leaving the European Union, if it exits with a deal.
FILE PHOTO: Chancellor of the Exchequer Sajid Javid leaves Downing Street in London, Britain, October 3, 2019. REUTERS/Henry Nicholls/File Photo
“I will be setting out our plan to shape the economy for the future and triggering the start of our infrastructure revolution,” Javid said in a statement.
However, in the event of a no-deal Brexit – which would cause a major shock to the world’s fifth-biggest economy – the government would act quickly to outline its approach and “take early action to support the economy, businesses and households”, followed by a budget in the weeks after, the government said.
Prime Minister Boris Johnson says he will take Britain out of the EU on Oct. 31, if necessary without a transition deal to soften the economic turmoil.
But lawmakers have passed legislation aimed at forcing him to seek a delay if there is no transition.
The opposition Labour Party said the budget announcement would probably be aimed at wooing voters before an early election that Johnson is demanding.
“We expect more of the same. An electioneering stunt rather than a budget to re