Politics
Rishi Sunak speech: What time is the Chancellor announcing the Budget tomorrow, Wednesday, March 3?
IN A ‘Budget first’ Rishi Sunak will be taking questions from the public and the press straight after his Commons statement.
Shops, bars, clubs, hotels, restaurants, gyms and hair salons will be offered £5billion of additional grants, the government has already vowed.
Read our Budget 2021 live blog for the latest news & updates
Rishi Sunak says public finances won’t be fixed overnight[/caption]
What time is Rishi Sunak announcing the Budget?
The Budget will be held on Wednesday afternoon, March 3, 2021.
It is scheduled on the parliament website to take place after the Prime Minister’s Questions.
PMQs usually lasts around half an hour so the Budget is expected to start just after 12.30pm.
But, it may be later if PMQs overruns and time is often given to allow MPs to enter the House of Commons chambers.
Mr Sunak tweeted: “This Wednesday, in a Budget first, I will be taking questions from the public and the press straight after my statement. Live from 5pm.”
Each year the Chancellor of the Exchequer makes the Budget – or financial – statement to the House of Commons, outlining the state of the economy and the Government’s proposals for changes to taxation.
The House of Commons debates the Budget and scrutinises the subsequent Finance Bill, which enacts the Chancellor’s proposals.
What is Rishi Sunak expected to announce?
There are plenty of reports – and rumours – predicting Mr Sunak‘s Budget announcement.
They include:
- Beer duty is expected to be frozen to give pubs a flying start when lockdown is lifted
- First-time buyers and current homeowners will be able to get mortgages on properties up to £600,000 with five per cent deposits
- Nearly £410million will support the badly-hit culture sector
- A £300million summer sports recovery package will help cricket, tennis and horse racing
- The fuel duty freeze is set to continue
- Furlough has been pipped for extension to “unleash growth”
- A £520million ‘shot in the arm’ is expected for small businesses
- Announcement of the creation of 250,000 green apprenticeships
- Ruling out new green levies like the dreaded meat tax
But, William Hague, who is a close ally of the chancellor, warned that levies on businesses and individuals “have to go up” to pay off the pandemic debt pile.
And, the cost of ordering goods online could rise, according to rumours in The Telegraph, as the Chancellor is reportedly considering introducing a new ‘green tax’ on every internet delivery.
There is also talk that some form of 2020’s Eat Out To Help Out scheme might be announced to boost the hospitality sector, writes the Daily Mail.
Mr Sunak will unveil a £5billion rescue package for high streets[/caption]
How can I watch Rishi Sunak announce the Budget?
The Chancellor’s Budget can be followed via The Sun Online’s dedicated liveblog.
Or, watch our YouTube channel to see Mr Sunak deliver his public economic proposals.
Most read in Money
