The Chancellor has postponed fixing a date for the Autumn Budget, the reason of course is Brexit.
He says that he wants to avoid the Budget clashing with the final stages of negotiations with the EU, expected via the EU summit in November.
In reality it would be pointless to agree forthcoming changes to the tax legislation with the uncertainty of Brexit still resolved. In particular, changes to our legislation on VAT and Customs duties are likely to need significant amendment depending on the outcome.
In terms of a likely date, it is very difficult to offer a prediction.
We are told that he has put the Office for Budget Responsibility on standby. Strictly, he is required to give a notice period of ten weeks before the Budget date. However, he has already stated that this announcement does not trigger the start of this period.
For more information please contact Lesley Sutton on 01484 550037 or email firstname.lastname@example.org