Sajid Javid to deliver first Budget of new Parliament on 11 March

Posted On: 
7th January 2020

Sajid Javid will deliver the Spring Budget to MPs on 11 March with a promise to kickstart a “decade of renewal” for Britain.

This will be the first Budget since the 12 December election

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This will be his first as Chancellor of the Exchequer, after the last one on 6 November was cancelled following Boris Johnson's announcement he wanted a December election

Speaking on a visit to Manchester’s new Trafford Park tram project on Tuesday, Mr Javid will say: “People across the country have told us that they want change. We’ve listened and will now deliver.

“With this Budget we will unleash Britain’s potential – uniting our great country, opening a new chapter for our economy and ushering in a decade of renewal.”

The Cabinet minister has promised to prioritise the environment and cost of living, as well as building on previous spending pledges in the Conservative manfiesto.

He will also set out plans for "responsible borrowing", including updating the Government's Charter of Fiscal Responsibility to allow himself more room to increase public spending.

Campaign promises by the Tories included raising the national insurance threshold to £9,500, keeping the “triple lock” on personal taxation and ending the benefit freeze.

Mr Javid also confirmed shortly after the election that the minimum wage would rise by 6.2% in April to £8.72 per hour, reaching £10.50 an hour by 2024.

Other plans already announced by the Government include £34billion a year in extra cash for the NHS, which will be the first major funding commitment for the health service enshrined in law.

On health, the Tories have also promised 50,000 more nurses, 40 new hospitals, scrapping some hospital parking charges and £1billion a year extra for social care. 

They have also committed more cash for environment initiatives such as £9.2billion for better insulation for schools and hospitals.

And a new £3billion skills fund was announced to provide funding for further education and training, as well as an increase in per-pupil school spending.