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Budget Revenue Expenditure Deficit/(Surplus) Budget Report 2024, October: £1.229 trillion £1.276 trillion £47.2 billion 2024, March: 2023, March: 2022, November: 2022, September mini-budget: 2021, October: £929 billion £1.045 trillion £116 billion 2021, March: £819 billion £1.053 trillion £234 billion 2020, March: £873 billion £928 ...
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. Average government spending per person is higher in Scotland, Wales and Northern Ireland than it is in England.
In his response to the budget statement, Sir Keir Starmer, the leader of the Labour Party and leader of the Opposition, accused the Conservatives of turning the United Kingdom back into the "Sick man of Europe" after presiding over more than a decade of economic stagnation and low wages: "Like millions across our country, this budget leaves us ...
Government borrowing jumped to £17.8bn in December, the highest level in four years and £3.2bn more than forecast.. The deficit was the highest for any December since 2020 - the height of the ...
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 ...
The British government budget deficit or surplus is the cash difference between government receipts and spending. The British government debt is rising due to a gap between revenue and expenditure. Total government revenue in the fiscal year 2015/16 was projected to be £673 billion, whereas total expenditure was estimated at £742 billion.
The deputy governor of the Bank of England has said that the Government did not fully brief the Bank on its mini-budget before it was unveiled. Bank of England ‘blindsided’ by unexpected ...
The Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday after inflation across the U.K. fell significantly, relieving some pressure on borrowers who ...