LONDON, Jan. 7 (Xinhua) -- Britain will begin a new economic chapter once its first post-Brexit budget is released on March 11, Chancellor of the Exchequer Sajid Javid said Tuesday.
According to a statement released by Javid, the new budget will "set out ambitious plans to unleash Britain's potential, level up across the UK and usher in a decade of renewal."
The March budget is expected to prepare Britain's economy for the decade ahead, which will "deliver on the government's promises on tax, to help tackle the cost of living for hard-working people."
Meanwhile, Britain will fulfill its commitments and create new opportunities, "including by investing billions of pounds across the country," Javid said.
In addition, the chancellor will add new rules to the country's fiscal responsibility charter to "(take) advantage of low interest rates to invest properly and responsibly, while keeping debt under control."
"The budget will prioritize the environment, and build on recent announcements to boost spending on public services and tackle the cost of living," according to Javid's statement.
The increased spending on public services is expected to focus on "new hospitals, training thousands of new police officers, funding vocational education and the biggest ever cash increase to the National Living Wage."
Britain announced at the end of 2019 that the country's lowest-paid workers are to receive a 6.2 percent pay rise in April this year, thanks to a new national living wage of 8.72 pounds (about 11.48 U.S. dollars) per hour, the biggest increase ever.
