While government sources have insisted nothing should be read into the date, it is the earliest the set-piece fiscal event has been held in 13 years of Conservative government - apart from in 2021 when the Treasury was trying to kickstart the economy a year after the start of the Covid pandemic.
Budgets must take place before the end of March but are more commonly scheduled for the second or third week. The decision to hold the budget at the beginning of the month has prompted speculation that Rishi Sunak, has not ruled out an early vote, despite abject poll ratings now.
The announcement was made in a Treasury tweet saying Hunt, the chancellor, had commissioned the Office for Budget Responsibility to prepare forecasts for the economy and public finances - the statement will reaffirm Labour's decision to prepare for a possible spring election.
Keir Starmer, Labour's leader, has already ordered his shadow ministers to finalise their policies by mid January, in time for the manifesto to be completed by 8 February, the Guardian has revealed.
A Labour source said: "Whatever they tell people, every decision the Tories have made has been geared to calling an election in May, if they believe that is to their advantage.
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