Sajid Javid has been preparing to announce his first round of spending pledges, with schools, hospitals and the police set to benefit.
He was expected to make his first major speech as Chancellor on Wednesday, but it was cancelled last minute. He will now give more details on spending in the House of Commons on September 4.
Mr Javid said the government could “afford to spend more on people’s priorities” after a decade of cutbacks.
“Thanks to the hard work of the British people over the last decade, we can afford to spend more on the people's priorities - without breaking the rules around what the Government should spend,” he said.
“But at the same time, it's vital that we continue to live within our means as a country. Unlike the Labour Party, we don't believe in just throwing money at a problem.”
Shadow chancellor John McDonnell said Mr Javid’s decision to cancel the speech last minute was a sign of “panic” within the government.
“Sajid Javid is getting a record of announcing events and initiatives, and then within hours cancelling or reversing them,” he said.
“This doesn't inspire confidence. Panic seems to be setting in inside government.”
Mr Javid has asked for a 12-month spending round in a bid to “clear the ground ahead of Brexit while delivering on people's priorities”.
The spending round will cover day-to-day department budgets for 2020/21, rather than a three-year period first suggested by Theresa May’s government.