Next Budget to take place in March

Michael Lloyd

January 7, 2020

The next Budget will take place on Wednesday 11 March, Chancellor of the Exchequer Sajid Javid has announced.

He is expected to set out plans in the March Budget to invest billions of pounds across the country to level up and spread opportunity, strengthen the economy and help tackle the cost of living for people.

Javid (pictured) said: “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.”

Payam Azadi, director of Niche Advice, added: “A lot of promises were made in in the run up to the election period.

“Let’s see if there was substance to it and if some of those promises will be kept, especially around housing.

“And let’s hope landlords don’t get penalised as they have done in previous Budgets.”

Peter Izard, business development manager at Investec Private Bank, added: “With Brexit due by the end of January, there will be a lot of emphasis on the March Budget to lay the foundations that maintain the UK’s position as a global centre and encourage international investment.

“UK property, particularly London property, continues to be a prized asset amongst global investors and so I would like to see a review of the current Stamp Duty system to capitalise on this opportunity.

“Changes to Stamp Duty in recent years have impacted transactions at the top end of the market and provide an obstruction to buyers throughout the system who want to trade up to a new property.

“An in-depth review of the way that stamp duty is structured could help to encourage more transactions, which would provide a boost to the economy and could actually increase tax revenue.

“As part of this review I would also like to include the proposals to add a stamp duty surcharge for foreign buyers.

“Scrapping these proposals would send a very positive message that the UK is open for investment.”

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