Andrew Heyn

Opinion | With post-Brexit budget, Britain signals that it is ready for business with Hong Kong and the world

The budget, the first to be delivered amid a pandemic, signals a major shift towards public-sector and infrastructure investment, and showcases Britain’s determination to be an active member of the world community

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Britain’s Chancellor of the Exchequer Rishi Sunak (left) and his ministerial team prepare to leave No 11 Downing Street for the House of Commons, where he will unveil Britain’s first budget since it left the EU. Photo: AP

Andrew Heyn

Published: 1:00am, 15 Mar 2020Updated: 2:38am, 15 Mar 2020

British Chancellor Rishi Sunak’s budget speech earlier this week was hugely significant. It was the first budget since the United Kingdom left the European Union. It was also the first, that I can recall, to be delivered during a major UK health scare.

And, crucially, it is the first budget in many years to signal such a major shift to public-sector spending and infrastructure projects. As a result, day-to-day spending on public services will be £100 billion (US$129 billion) higher, and a record £640 billion will be invested in Britain’s roads, railways and digital networks.

It is also an important budget because of the message it sends out about Britain’s determination to be an outward-looking, active member of the international community and a country as open as ever to people who want to live, work, visit and invest.

Let us start with Britain’s relationship with the EU. I have been a diplomat for over 30 years. The last six weeks have been the first during my Foreign Office career with Britain outside the EU.

I was nine when Britain joined in 1973. As a football fan, I can remember Britain’s accession being marked by a match between the new members – “The Three” (Britain, Ireland and Denmark) vs “The Six” (existing member states). The Three won 2-0 by the way. Watching the footage is a reminder of just how long ago that was. And it underlines the huge significance of Britain’s departure from the EU on January 31.

The December election delivered a clear mandate to the government to get Brexit done. But our departure is not about turning our back on the EU. Far from it. It is about a new type of partnership with our EU friends and a new freedom to build partnerships across the world.