Will a no-deal Brexit deal delay the budget? It could have a huge impact on the decisions that are currently under review for April 2020 and a no-deal will mean a review of such agreements – therefore a delay in the November Budget could happen.
The Office for Budget Responsibility (OBR) compiles and provides all the forecast data behind the Budget and have revealed that current predictions assume that a Brexit deal is agreed and comes to fruition. This would provide the reason behind why a no-deal Brexit would prompt a delay to the Budget as these forecasts would need to be amended accordingly and would be required in order to deliver an accurate portrait of the intentions for next tax year.
Chancellor Sajid Javid has confirmed that he will deliver his first Budget on 6 November 2019 however, in the event of a no-deal Brexit, this will be a ‘simple economic statement’ with a full Budget postponed until a later date.
