Budget
Budget
The Budget is the single most important economic and financial statement made each year by the Chancellor of the Exchequer to Parliament and the nation. The Budget Responsibility and National Audit Act 2011 require the Government to produce a Budget Report for each financial year. The Charter for Budget Responsibility sets out what the Budget Report must cover.
The Budget Responsibility and National Audit Act 2011 requires the Office for Budget Responsibility (OBR) to publish two economic and fiscal forecasts for each financial year, one of which is to be the official forecast on which the Chancellor sets out the Government’s fiscal policy in the Budget. The OBR’s duty is to examine and report on the sustainability of the public finances and it is required to do so objectively, transparently and impartially. The Budget is the Chancellor’s response to the OBR’s forecasts.
Budget documents, statement and key announcements
The last Budget was delivered by the Chancellor of the Exchequer, George Osborne, on 23 March 2011.
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The next Budget will take place on Wednesday 21 March 2012. Full coverage of Budget 2012 will be available through our Budget 2012 page and on the HM Treasury Twitter channel with the #Budget2012 hashtag.
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Details of other recent Budgets can also be viewed through the links on the left.
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