Tuesday 1 October 2019 8:59 pm

Sajid Javid confirms budget will take place later this year

Sajid Javid has confirmed that a budget will take place later this year.

The chancellor said there would be a budget in “due course” later in the year following on from last month’s one-year spending round, in which he announced an increase in funding for the NHS, education and the police.

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Javid said the type of budget would depend on whether the UK left the EU with or without a deal, but that there would be some tax changes and simplifications that he would push for in either scenario.

Speaking to a fringe event at the Conservative party conference, Javid said:  “But of course, if it was a no-deal outcome, which is still a possibility, there will be the other action you would want to take which will support the economy.”

Elsewhere, the chancellor suggested he was sympathetic to abolishing inheritance tax.

“I shouldn’t say too much now, but I understand the arguments against that tax,” he said.

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“I do think that when people pay taxes already through work or through investments and capital gains and other taxes, there’s a real issue with asking them to on that income to pay taxes all over again. Look, sensible changes have already be made, but it’s something that’s on my mind.”