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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 ...
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.
She is the first woman to present a UK Budget, marking the Labour Party's first Budget in over 14 years. It covered Labour's fiscal plans, with a focus on investment, healthcare, education, childcare, sustainable energy, transport, and workers' rights enrichment. The National Minimum Wage is set to increase by 6.7% (reaching £12.21 per hour ...
Rachel Reeves Budget measures mean that by 2028 weekly wages will have grown by £13 pounds over the last twenty years, an economic think-tank has said.. The Resolution Foundation has warned that ...
Britain's external deficit is a worry and there are questions over the country's competitiveness long-term, while the new Italian government's medium-term fiscal plan appears "realistic", senior ...
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
Under the proposals, all government departments would see a funding increase in 2025-26, in stark contrast to the 2024-25 budget which imposed cuts on all departments apart from health.
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.