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The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year. Thus, the UK budget for financial year 2021 runs from 1 April 2021 to 31 March 2022 and is often referred to as 2021–22.
The October 2021 United Kingdom budget, officially known as the Autumn Budget and Spending Review 2021. A Stronger Economy for the British People, was a budget statement made by Chancellor of the Exchequer Rishi Sunak on 27 October 2021. [1] It was the third and final consecutive budget delivered by Sunak before his resignation in July 2022. [2]
The national debt is expected to rise from 88.8% of GDP in 2021 to 93.8% in 2022, 97.1% in 2023–24, 97% in 2024–2025 and 96.8% in 2025–2026 The Office for Budget Responsibility has estimated a budget deficit of £394 billion in 2020–21
Its demands include a return to pre-April 2022 energy rates, a pay rise in real terms for public sector workers, a rise in the national minimum wage, a reversal of the National Insurance increase, and a £20 per week increase in Universal Credit payments. Within a few weeks of its August 2022 launch, almost 450,000 people had joined the ...
The 2021 spending review (SR21) was subsumed into the October 2021 budget. [19] SR21 set departmental resource and capital budgets from 2022-23 to 2024-25 and covered the devolved administrations' block grants for the same period of time. [20]
The British (personal) tax year still ends on "Old" Lady Day (5 April under the 'new style' calendar, which in the 18th century corresponded to 25 March under the 'old style' Julian calendar: the Calendar (New Style) Act 1750 advanced the calendar by eleven days. 5 April is still the end of the British tax year for personal taxation.
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A 7% cap on social housing rent increases in England from April 2023 reduced from 11% [18] Electric cars, vans and motorcycles to pay road taxes from April 2025 [18] Directly elected mayors announced for Norfolk, Suffolk, and Cornwall, as well as a to be confirmed area of North East England [18] The Sizewell C nuclear power plant will go ahead [23]