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July fiscal statement

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The Financial Times and The Times have reported that Chancellor Sunak is preparing a fiscal statement, to be delivered in the week beginning 6 July. The FT notes that the statement is likely to focus on the national infrastructure strategy, delayed from the March 2020 Budget, which is expected to set out a £100bn capital spending plan. ‘Officials confirmed on Sunday that plans were being drawn up for a “fiscal event” in July, but said the announcement would not constitute a Budget,’ the paper reported.

In its Weekly Tax Brief, RSM notes that the Treasury has confirmed this will not be a Budget, so any tax proposals are more likely to be delayed until the autumn.

Issue: 1490
Categories: News