After months of economic uncertainty due to Brexit and the general election, Chancellor Sajid Javid has officially announced that the Budget will be set for 11 March 2020. Chancellor Javid expressed his intent to pump billions of pounds back into the UK economy to promote economic growth in lower-income areas, such as the Midlands and northern England. Chancellor Javid seeks to change how the Treasury allocates funds to ensure that spending is spread evenly across regions to spur economic growth across the country. Investing responsibly is at the heart of Chancellor Javid’s reforms, with his goal being to usher in a new era of economic and environmental growth for the people of Great Britain.
While visiting the Trafford Park tramline project in Manchester, Chancellor Javid made it clear that he wants to allocate more spending to public services which seek to help the hardworking individual. He aims to improve the health, environment and cost of living for everyday Britains by investing in new hospitals and growing the police force, among other reforms.
Chancellor Javid also expressed his intent to capitalise on Brexit and the exciting opportunity it presents the UK economy stating that, “With this budget we will unleash Britain’s potential — uniting our great country, opening a new chapter for our economy and ushering in a decade of renewal.” The UK is already seeing incredibly low interest rates, and Chancellor Javid firmly believes that Britain’s potential will be further harnessed upon leaving the EU.
With the new financial year fast approaching in April 2020, Chancellor Javid has big expectations for his first Budget post-Brexit and the general election. Everyone at Headway Wealth looks forward to seeing the outcome of his financial reforms and is ready to help you with your financial planning in 2020. Contact us today to discuss your savings and investment options and get the independent financial advice you deserve. We’re here for you.
