Sunak, who was promoted to the role last week as part of Boris Johnson’s cabinet reshuffle, has confirmed the Budget will go ahead on 11 March.

He tweeted: “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.”

Doubt had been cast on whether the new Chancellor could deliver the Budget on the original date with less than a month to go. It followed the shock resignation of Sajid Javid as Chancellor of the Exchequer last week.

Transport secretary Grant Shapps told the BBC’s Andrew Marr programme last weekend that as Sunak had only been in place a few days, he needed a few days to decide on the date.

He added that the government hadn’t confirmed the Budget would definitely go ahead on the original date but said: “Clearly, we’ll need to have a Budget”.

Yesterday a Treasury spokesperson told YourMoney.com: “Preparations for Budget next month are already advanced, and will continue at pace this week. The date will be confirmed in the coming days.”

The previous Budget – scheduled for 6 November 2019 – was scrapped due to ongoing Brexit talks and calls for a General Election.