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Rishi Sunak is working ’round the clock’ on March 11 Budget


Through the £1.5bn package, the Scottish government will receive £780 million, the Welsh government £475m and the Northern Ireland executive £260m – worked out through the Barnett formula (Photo of Rishi Sunak by Getty Images).
Through the £1.5bn package, the Scottish government will receive £780 million, the Welsh government £475m and the Northern Ireland executive £260m – worked out through the Barnett formula (Photo of Rishi Sunak by Getty Images).

RISHI SUNAK has confirmed that he would present the Budget on March 11, adding that it “will deliver” on “levelling up and unleashing the country’s potential”.

The chancellor is reportedly working “round the clock” and has decided to skip the G20 summit of finance chiefs set to be held in Riyadh this weekend.

Sunak is said to have informed some of his counterparts over phone that he would be catch up with them at the International Monetary Fund’s Spring meeting in April.

Earlier, there were reports that the Budget could be postponed to March 18 or 25.

Sunak, however, confirmed the date via Twitter: “Cracking on with preparations for my first Budget on March 11. It will deliver on the promises we made to the British people – levelling up and unleashing the country’s potential.”

Reports said Prime Minister and Sunak, who would be meeting tomorrow, would discuss on loosening up fiscal rules. The chancellor faced a big challenge as the Budget plans of Sajid Javid, who made a shocking exit from the Treasury’s helm, had been “well advanced”.

“Sunak is likely to rewrite some of Javid’s rules, relaxing budget constraints across a broader number of Whitehall departments,” said the Guardian.

Notably, the government had failed to present a scheduled Budget in November last year and later in February. As per law, the Budget should be presented by April 5.