Timing had been thrown into doubt after resignation of Sajid Javid last week.

Rishi Sunak, the new chancellor of the exchequer, has confirmed the budget will go ahead as planned on 11 March.

Rishi Sunak

The timing of the budget had been thrown into doubt after the shock resignation of Sajid Javid, Sunak’s predecessor, last week.

But in a tweet earlier today Sunak (pictured) said he was preparing to give his first budget as chancellor next month and as planned.

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

Javid was understood to have been lining up hefty spending increases for infrastructure schemes and the construction sector will be looking for Sunak to deliver similar plans.

The former chancellor was also a big supporter of HS2, while Sunak was lukewarm on the £100bn project, preferring options for a new northern powerhouse rail network.