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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 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.
In Australia, a fiscal year is commonly called a "financial year" (FY) and starts on 1 July and ends on the next 30 June. Financial years are designated by the calendar year of the second half of the period. For example, financial year 2025 is the 12-month period ending on 30 June 2025 and can be referred to as FY2024/25.
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.
[80] [81] [82] The process of reassessing claims for Personal Independence Payment, a disability benefit, was continued in order to make savings expected to be £150m per year by 2028. [83] After the first budget in October 2024, the BBC however stated that increases in public sector funding meant that "A line [could] be drawn under the years ...
The UK economy unexpectedly grew in the final three months of last year following a boost to the construction and services sectors. The economy expanded by 0.1% between October and December ...
Budgeting is more popular than ever. A 2022 Debt.com survey found that 86% of people track their monthly income and expenses, up from 80% in 2021 and 2020 and roughly 70% pre-pandemic. And in a ...
England's NHS budget will increase by £3.3bn a year during 2023–24 and 2024–25, and spending on schools by £2.3bn over the same period [18] Defence spending to be maintained at 2% of national income [18] Overseas aid spending to remain at 0.5% until 2028, below the official 0.7% target [18]