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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 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.
The March 2021 United Kingdom budget, officially known as Protecting the Jobs and Livelihoods of the British People was a budget delivered by Rishi Sunak, the Chancellor of the Exchequer in March 2021. [1]
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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 Chancellor said that he would rip up changes from 2017 and 2021 which transferred this responsibility to employers when a person provided services through their own company or other intermediary.
Average government spending per person is higher in Scotland, Wales and Northern Ireland than it is in England. In financial year 2021–22, spending per head in England was £15.2k, whereas in Scotland it was £17.7k, in Wales it was £16.9k and in Northern Ireland it was £17.5k. [4]