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Since autumn 2017 the United Kingdom budget typically takes place in the Autumn in order to allow major tax changes to occur annually, well before the start of the fiscal year. [2] 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.
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.
On 25 April, data published by the Office for National Statistics indicated that government borrowing for the year up to 31 March 2023 had been £139.2bn, and consequently less than the £152bn forecast prior to the 2023 budget. [16] On 2 January 2024, applications opened for working parents in England to apply for 15 hours per week of funded ...
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 Congressional Budget and Impoundment Control Act of 1974 created the current fiscal year of 1 October to 30 September, making the change to allow Congress more time to arrive at a budget and creating what is known as the "transitional quarter" from 1 July 1976 to 30 September 1976. For example, the United States government Fiscal Year 2024 ...
The Autumn 2024 United Kingdom budget, due to be presented by Rachel Reeves This page was last edited on 9 July ...
The UK government orders an inquiry after the Department for Education miscalculated the schools budget for England for the 2023–24 academic year, forcing a planned 2.7% had to be revised to 1.9%. [486]
The October 2024 United Kingdom budget was delivered to the House of Commons by Rachel Reeves, the Chancellor of the Exchequer, on 30 October 2024. She is the inaugural female to present a UK Budget, marking the Labour Party's first Budget in over 14 years.