New Chancellor John Healey has confirmed that the date of his first Budget will be Wednesday 28 October.
He said it will be “a Budget that moves money and power out of Westminster, and into every postcode around Britain.”
Announcing the date of the Budget he said it “will be built on fiscal discipline.”
He added: “It will meet our fiscal rules. It’ll give businesses and families some of the stability they need to plan for the future.”
He was urged to commit to pension tax stability to avoid speculation saga that plagued predecessor Rachel Reeves’ two Budgets.
Tom Selby, AJ Bell public policy director, said: “The last two Budgets were dogged by constant rumour and speculation over a potential raid on pensions tax-free cash. Those rumours were allowed to fester, creating uncertainty over whether the government was committed to the long-term pension tax pact it enters into when people set money aside for retirement.
“A pledge not to meddle with people’s savings would show this government supports savers and retirees, and avoid a repeat of the last two fiscal events where billions exited long-term investments, starving the UK of valuable investment capital and damaging people’s retirement prospects in the process."
He also called on the Chancellor to review the Pensions IHT rules set out under Rachel Reeves.
Mr Selby said the rules was “insanely complex,” adding: “The crackpot plans are borderline impossible to deliver and will heap mountains on pain on already-grieving families.”
He said tax neutral options are on the table which would still deliver the revenue the government wants, “without imposing such an ill-considered tax policy on families.”