Autumn Statement 2010

29 November 2010

Chancellor of the Exchequer, George Osborne, made a statement to the House of Commons on Monday 29 November on the Autumn Statement.

The Chancellor updated MPs on the Office for Budget Responsibility's (OBR) growth forecasts for the UK economy.

Autumn Statement

The Government is legally required to publish a financial report on the state of the economy twice a year. From December 1976 until November 1992, the Chancellor of the Exchequer made an Autumn Statement to the House of Commons in addition to the annual Budget Statement in the Spring.

The Spring Budget and the Autumn Statement were merged and a "unified-Budget" was presented to Parliament in November 1993. The unified-Budget was then replaced in 1997 with the traditional Spring Budget and the publication of a new Pre-Budget Report in the autumn.

The coalition government announced in September 2010 that it would replace the Pre-Budget Report with an Autumn Statement. The new Autumn Statement included UK economic growth forecasts produced by the newly-created Office for Budget Responsibility.

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