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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. Historically, the budget was usually released in March, less than one month before the beginning of the new fiscal year.
For the financial year 2023–24, total government spending is expected to be £1,189 billion. [ 2 ] The UK government has spent more than it has raised in taxation since financial year 2001–02, [ 3 ] creating a budget deficit and leading to growing debt interest payments.
Rank Institution Endowment (GBP billions, End of Financial Year) Change 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 1‑year 5‑year 10‑year; 1: University of Oxford [α]: 8.708 [11]: 8.066 [14]
Business enterprises may opt to use a financial year that ends at the end of a week (e.g., 52 or 53 weeks in length, and therefore is not exactly one calendar year in length), or opt for its financial year to end on a date that matches the reporting cycle of its foreign parent. All entities within the one group must use the same financial year.
Brexit: Physical checks begin on meat and dairy products, plants, seeds, and a number of other goods imported from the European Union, which are expected to cost British firms about £330m per year. [381] 2024 Hainault sword attack: A 14-year-old boy is killed and four other people are wounded by a man wielding a sword in Hainault, northeast ...
£25 million will be used to maintain closed Welsh coal mines. £4.5 billion to Scottish, £.1.7 billion to Welsh and £1.2 billion to the Northern Irish assemblies. National debt was forecast to fall by the end of the current Parliament. £1 billion for the UK's aviation industry. More and better rural broadband internet.
The UK government freezes the UK assets of the extreme-right wing group Blood and Honour, making it the first extremist group to be subject to UK financial sanctions. [24] Italy's mountain rescue service confirms the discovery of a body, which it believes to be that of Sam Harris, one of two missing British hikers. [25] 9 January
The March 2024 United Kingdom budget was delivered to the House of Commons by Jeremy Hunt, the Chancellor of the Exchequer, on 6 March 2024. [1] [2] It was the second budget presented by Hunt since his appointment as Chancellor, the last to be delivered during his tenure as chancellor and the last budget to be presented by the Conservative government of Rishi Sunak before the party was ...