Chancellor Rachel Reeves with last year's Budget.

Rachel Reeves has pencilled in November 26 for the date of the Budget, HuffPost UK has learned.

Downing Street confirmed on Tuesday that the chancellor’s eagerly-anticipated statement will not take place before mid-November at the earliest.

That’s because the Office for Budget Responsibility needs at least 10 weeks to carry out its assessment of the government’s tax and spending plans.

The prime minister’s spokesman said: “They’ll follow the usual process, they’ll set out 10 weeks, and you’ll get that from the Treasury in the usual way.”

HuffPost UK has been told that the working assumption inside No.10 is that it will take place on November 26.

A Treasury source said: “We are not commenting on Budget date speculation. It will be announced in the usual way.”

The chancellor will announce a number of tax rises as she seeks to plug a black hole in the nation’s finances which some economic experts have said could be as high as £50 billion.

Reeves........

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