When is Budget Day 2021 and what time is Rishi Sunak’s announcement?

1 March 2021, 11:34 | Updated: 1 March 2021, 13:51

Rishi Sunak will deliver the 2021/22 budget on Wednesday 3rd March
Rishi Sunak will deliver the 2021/22 budget on Wednesday 3rd March. Picture: PA

By Zoe Adams

The Chancellor of Exchequer is due to set out the 2021/22 Budget this week, but what day is the announcement? And what time is the Budget on?

The Budget 2021/22 is happening this week and the Chancellor of Exchequer is expected to announce changes to stamp duty, income taxes, the furlough system and more.

One of the most highly anticipated budgets due to the coronavirus pandemic, which has seen many suffer financially, the Budget is expected to target those struggling financially, including businesses.

Related article: Stamp Duty holiday could be extended until the end of June 2021

So when is Budget Day 2021? And what time is the Budget announcement? Here’s the information you need to know.

Rishi Sunak will address the House of Commons after Boris Johnson's PMQs
Rishi Sunak will address the House of Commons after Boris Johnson's PMQs. Picture: PA

When is Budget Day 2021?

The Budget will happen on Wednesday 3 March - a date which was confirmed in December 2021.

It takes place in the House of Commons chambers where Rishi Sunak will follow on from Prime Minister Boris Johnson’s question time.

What time is the Budget on Wednesday?

Prime Minister’s Questions usually begins at 12:00pm and lasts for around half an hour with Rishi Sunak expected to take centre stage and deliver the budget afterwards.

This means the time of the budget should be after 12:30pm.

There is the chance PMQs could overrun and extra time is also given for MPs to arrive for the Budget as well as a short break.

The Budget statement usually lasts around an hour and isn’t allowed to be interrupted by MPs present in the House of Commons chambers.

Stampy Duty and home buyer's aid is expected to be big in the Budget announcement
Stampy Duty and home buyer's aid is expected to be big in the Budget announcement. Picture: PA

What can we expect from the Budget 2021/22?

After a tough financial year in the UK thanks to coronavirus, the budget will be focusing on helping those most affected from the pandemic.

Firstly, the furlough scheme and Universal Credit payments are expected to be extended, tax hikes are predicted and there are calls for the Stamp Duty holiday to be extended.

It’s also expected home buyers will be given extra aid.

When is the Budget 2021/22 press conference?

For the first time, the Chancellor has confirmed he will hold a press conference after the Budget announcement to take questions from the public.

This will take place at 5pm on Wednesday 3 March.