Rishi Sunak, MP for Richmond in Yorkshire and former chief secretary to the Treasury, was promoted to the role as part of Boris Johnson’s cabinet reshuffle.
But with such a short space of time before the government’s financial announcement, doubt was cast over the original March date.
Transport secretary Grant Shapps told the BBC’s Andrew Marr programme that as Sunak has only been in place a few days, he needs a few days to decide on the date.
He added that the government had not confirmed the Budget would definitely go ahead on the original date but said: “Clearly, we’ll need to have a Budget”.
A Treasury spokesperson told Mortgage Solutions sister title YourMoney.com: “Preparations for Budget next month are already advanced, and will continue at pace this week. The date will be confirmed in the coming days.”
The previous Budget – scheduled for 6 November 2019 – was scrapped due to ongoing Brexit talks and calls for a General Election.
James Jones-Tinsley, self-invested pensions technical specialist at Barnett Waddingham, said: “There are more than just political implications if the Budget is delayed past 11 March. Any changes to pensions regulation tend to take effect from 6 April, the start of the new tax year.”