Government plans to hold its Budget on 6 November have been cancelled as Boris Johnson announced he would push for a general election.
Chancellor, Sajid Javid, had initially pinpointed the 6 November announcement for a post-Brexit statement on the UK’s spending plans, under the assumption the UK would be leaving the EU on 31 October.
Following last week’s Letwin amendment – which closed down a legislative loophole that could have allowed for a no-deal Brexit on 31 October – the Prime Minister has now conceded he will not make his own Brexit deadline, turning his attention towards a December general election instead to give MPs more time to debate his Brexit deal.
A Treasury source told the Daily Mirror: "Parliament has voted for a delay. We're calling for an election, so we won't be delivering the Budget on 6 November."
Labour leader, Jeremy Corbyn, said he won’t be supporting an election until the possibility of a no-deal Brexit has been ‘taken off the table.’
The House of Commons is currently waiting on a verdict from EU leaders – who could announce today a further extension to the Brexit deadline of up to three months.
But as the Brexit stalemate continues, key sectors in the UK such as social care and education must keep waiting to learn the Government’s spending plans for the forthcoming year.
Latest News
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories