Budget To Be Cancelled In UK

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A source has informed the Euro Weekly News the UK Budget planned for the 6th of November has been cancelled due to parliament having voted for a delay to Brexit.

The Budget which takes place twice a year by the Chancellor of the Exchequer, who resides next door in Downing Street, reveals his plans from his red box to parliament but now seems to be cancelled for this years second reading.

The current Chancellor is Sajid Javid MP who was appointed Chancellor of the Exchequer on 24 July 2019.

The Chancellor of the Exchequer is the government’s chief financial minister and as such is responsible for raising revenue through taxation or borrowing and for controlling public spending. He has overall responsibility for the work of the Treasury.

The Chancellor’s responsibilities cover:

  • fiscal policy (including the presenting of the annual Budget)
  • monetary policy, setting inflation targets
  • ministerial arrangements (in his role as Second Lord of the Treasury)

Sajid Javid MP was Home Secretary from 30 April 2018 to 24 July 2019. He was Secretary of State for Housing, Communities and Local Government from 8 January 2018 to 29 April 2018, and Secretary of State for Communities and Local Government from July 2016 to January 2018.

Sajid served as Secretary of State for Business, Innovation and Skills from May 2015 until July 2016. He was Secretary of State for Culture, Media and Sport from April 2014 to May 2015 and previously he was both the Economic and Financial Secretary to the Treasury. He was a member of the Work and Pensions Select Committee from June to November 2010. He was elected Conservative MP for Bromsgrove in 2010.

He will of course taken his orders to cancel the Budget from Prime Minister Boris Johnson