UK budget on March 11 as planned: new finance minister

Britain's first budget following Brexit will take place on March 11 as planned, the country's new finance minister Rishi Sunak said Tuesday after the shock resignation of predecessor Sajid Javid.

"Cracking on with preparations for my first Budget on March 11," tweeted Sunak, who Prime Minister Boris Johnson last week appointed to the post of chancellor of the exchequer.

Following suggestions the budget could be delayed to give Sunak more time to prepare for the key event, the new finance chief added that the annual update on government tax and spend plans "will deliver on the promises we made to the British people -- levelling up and unleashing the country's potential".

Javid resigned after Johnson offered to keep him on only if he sacked all his political advisers, as the prime minister's Downing Street office looks to have greater say over Treasury policy.

Sunak, 39, had been Javid's deputy.

Britain finally departed the European Union on January 31, leaving Johnson tasked with striking trade deals worldwide.

He meanwhile wishes to improve productivity in cities outside of London with the help of massive infrastructure projects like the new high-speed railway HS2.