Today will be the first budget announcement from the new Conservative government. It comes less than four months after the last Budget of 18th March, and with an Autumn Budget scheduled for later this year, today’s Budget will mean the Chancellor will have delivered three important economic summaries and policy plans in the space of just nine months.
Mr Osborne described this second Budget as a ‘stability Budget’, explaining that his aim was to clarify policies announced in the Conservative’s pre-election manifesto and to announce further measures to keep Britain’s economy on the right track.
There has been much debate over the past weeks about how Osborne is likely to include measures perhaps less palatable to many UK tax payers, with reductions on certain tax reliefs and a crackdown on tax avoidance, as well as proposed cuts to public sector spending and welfare.
The Chancellor already intimated that he would like to see three million more people find apprenticeship places, so funding for these schemes has been widely anticipated.
Check back later today for your copy of the Budget Summary 8th July 2015.