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Budget 2016

  • George Osborne insists £12bn in welfare cuts will go ahead

    Chancellor of the exchequer George Osborne has said that he will push ahead with plans to cut £12bn in welfare spending, despite previous reports that Conservative party campaign promises would be reined in under the new government. Writing with work and pensions secretary Iain Duncan Smith in The Sunday Times, Osborne said that he would [...]

  • George Osborne and Iain Duncan Smith promise £12bn cuts to welfare budget

    The government has promised to slash the welfare bill by £12bn each year, the day after tens of thousands of people took to the streets of London to protest against austerity. Chancellor George Osborne and work and pensions secretary Iain Duncan Smith said the cuts would reform "the damaging culture of welfare dependency" and ensure [...]

  • Budget 2015: Institute of Chartered Accountants says George Osborne should simplify taxes

    The Institute of Chartered Accountants in England and Wales (ICAEW) is calling upon chancellor of the exchequer George Osborne to simplify the tax code in his forthcoming summer Budget. With the Conservative Budget just three weeks away, the ICAEW said today that the government’s previously-announced plans to cut red tape and reduce costs to British [...]

  • Mansion House speech: George Osborne says budget surplus will be a legal mandate

    June 9, 2015

    Chancellor of the Exchequer George Osborne will use a major speech in the City tonight to introduce a new law requiring future governments to run an overall budget surplus.   “The result of this recent British election, and the comprehensive rejection of those who argued for more borrowing and more spending, gives our nation the [...]

  • Queen’s Speech 2015: Let’s hope the Tories are saving the radicalism for the Budget

    May 27, 2015

    We were told we’d never see such a sight again. Majorities were a thing of the past, they said, and coalition politics was here to stay. And yet there it was yesterday – resplendent in all the finery and pageantry that the British state can muster – a legislative programme for a majority Tory government. [...]

  • Moody’s doubts government’s ability to meet its deficit targets

    May 26, 2015

    Credit ratings agency Moody's has questioned the speed by which the new government will be able to shrink its gnawing budget deficit. "We expect the budget deficit to decline continuously over the coming years, a credit positive," Moody's said. "However, we also believe that the pace of adjustment might be somewhat slower than the government [...]

  • New budget 2015: George Osborne uses CBI speech to lay out government plans to tackle the productivity puzzle

    May 20, 2015

    George Osborne offered a glimpse of what to expect at the 8 July budget when he gave a speech to the Confederation of British Industry (CBI) this evening, with productivity a major focus. Also top of the agenda is the merging of the Shareholder Executive – the body that runs the government’s financial interests in [...]

  • Chancellor George Osborne to deliver new budget on 8 July

    May 16, 2015

    Chancellor George Osborne has said he will deliver a new budget "for working people" on 8 July following the Conservative's shock electoral win last week. "On the 8th of July I am going to take the unusual step of having a second budget of the year – because I don’t want to wait to turn the promises [...]

  • Budget 2015: Here’s Britain’s wish list for George Osborne – more spending on NHS, education, tax cuts and transport, slash pensions and benefits for older people

    May 15, 2015

    [infographic id="117"] The British public want the government to spend more on the NHS, education and tax cuts, and slash the cash set aside for welfare and older people's benefits such as pensions, bus passes and the winter fuel allowance by £75bn. George Osborne is expected to announce his second Budget of the year shortly [...]

  • Senior Tory Eric Pickles hints at new Budget in coming weeks

    May 11, 2015

    A Conservative member of the last coalition Cabinet said yesterday that chancellor George Osborne could unveil a new Budget “relatively soon”. Eric Pickles, who served as secretary of state for communities and local government, said that the move would be needed to outline Tory attempts to reduce the state’s huge annual deficit. Osborne revealed his [...]

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