Budget 2011 statement

23 March 2011

Chancellor of the Exchequer, George Osborne MP, made his Budget statement to the House of Commons on Wednesday 23 March.

Watch and read the Budget statement and views expressed by MPs on Parliament TV and in Commons Hansard.

The link below will take you to the video and audio feed from the Commons Chamber.

Budget documents

The documents related to the Budget, including the Red Book can be found on HM Tresaury website.

Budget statement

The Budget usually takes place in March or April. Every year the Chancellor of the Exchequer makes a major speech to the House of Commons on the state of the national finances and the Government's proposals for changes to taxation. This statement is known as the Budget.

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 Thursday 24 March, Monday 28 March and will conclude on Tuesday 29 March.

House of Commons Library Analysis

The House of Commons Library regularly produce briefing notes which inform MPs about key issues. The Library has produced a Reserach Paper on economic indicators and a briefing paper on background to the 2011 Budget.

Further information

More information about the 2011 Budget can be found on HM Treasury website. The Parliament website has information about the history of the budget as a parliamentary occasion and frequently asked questions about budget speeches and financial documents. 

Image: PA

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