The new Chancellor Rishi Sunak has confirmed that the Budget will take place on 11 March, ending speculation it would be pushed back to give him more time.

In a Tweet today Mr Sunak said: “Cracking on with preparations for my first Budget on March 11.

“It will deliver on the promises we made to the British people – levelling up and unleashing the country’s potential.”

As late as this morning government ministers were declining to confirm the date of the Budget, only confirming the date would be in March. However by mid-morning Mr Sunak Tweeted to confirm the date and end speculation.

Despite the confirmation, speculation remains rife that he will cut back on pension tax relief although a proposed ‘mansion tax’ appears to have been rejected.

Some commentators have suggested that No.10 will exert more control over the content of the Budget in future.

In previous comments on his Budget plans, Mr Javid said that he planned to “unleash Britain’s potential.”

Mr Sunak has repeated Mr Javid’s desire to ‘level up’ Britain with an ambitious investment programme.

There was shock a week ago when ex-Chancellor Sajid Javid suddently quit just four weeks before he was due to deliver the first post-Election Budget.

His role as Chancellor was taken by Chief Secretary to the Treasury Rishi Sunak, MP for Richmond (Yorks). Mr Javid, who had been Chancellor since last July, is believed to have refused to sack his aides in a clash with No. 10, according to media reports.

Mr Javid’s exit came amid a major Cabinet reshuffle which saw a number ministers leave.

Mr Sunak lives near the North Yorkshire town of Northallerton. His father was a GP and his mother ran the chemist shop. He studied at Winchester College, Oxford University and Stanford University and was first elected to Parliament in 2015.