Chancellor of the Exchequer, George Osborne MP, will make a Budget statement to the House of Commons on Tuesday 22 June at 12.30pm. The sitting time for the House of Commons has been changed so that the House sits at 11.30am.
The Budget usually takes place in March or April. Indeed, there was a Budget statement made by the previous Chancellor of the Exchequer, Alistair Darling MP, on 24 March 2010. However, in election years, after a change of Government, a Budget will usually be introduced by the incoming Chancellor of the Exchequer, whether or not the outgoing Chancellor has already delivered one.
What is in the Budget?
The Budget statement will include:
- a review of how the UK economy is performing
- forecasts of how the UK economy will perform in the future
- details of any changes to taxation.
What happens after the Budget statement?
It is customary for the Leader of the Opposition to respond to the speech given by the Chancellor rather than the Shadow Chancellor. The Shadow Chancellor makes his response the day after the Budget statement.
The Budget Debate will continue on Wednesday 23 June, Thursday 24 June and will conclude on Monday 28 June.
The Budget statement will be shown live from when the Chancellor begins his statement on Tuesday 22 June and can be viewed via the link below.