Did May and Hammond reschedule the budget to allow City fatcats to attend the Cheltenham Festival?

For some unexplained reason, Philip Hammond and Theresa May decided to schedule the March budget a week earlier than usual this year:

  • 2010 budget- Wednesday March 24th
  • 2011 budget- Wednesday March 23rd
  • 2012 budget- Wednesday March 21st
  • 2013 budget- Wednesday March 20th
  • 2014 budget- Wednesday March 19th
  • 2015 budget- Wednesday March 18th
  • 2016 budget- Wednesday March 16th
  • 2017 budget- Wednesday March 8th

This means – for the first time in years – the chancellor’s March budget didn’t clash with the Cheltenham Festival which takes place a week later, and which also happens to be the most popular event of the year for City executives and top bankers:

The square mile has complained for years about the scheduling of the March budget – which forces them to work slap bang in the middle of the festival.

Coincidentally, Theresa May is also keen on attending races. Along with her husband Philip. Who, coincidentally, works in the City.

Could keeping City fatcats happy (not to mention potential party donors) be the real reason for May and Hammond’s mysterious rescheduling of this year’s March budget?