Budget
The Budget is the government's annual financial statement and review of the levels of taxation. It also includes the government's future financial strategy and economic forecast.
Most of the tax changes announced in the Budget are legislated for in the annual Finance Bill. Tax legislation announced in the Budet (unlike other legislation) may take effect before the Finance Bill is enacted. Budget resolutions are tabled as soon as the chancellor has finish the Budget speech and voted on at the end of the Budget debate.
The Pre-Budget Report (PBR) is intended to "encourage debate on the proposals under consideration for the Budget". The PBR includes a report on progress since the previous main Budget announcement, an update on the economy and government's finances, and is accompanied by announcements of proposed new tax measures, and consultation papers.
The following pages summarise the key measures announced in the most recent Budget statements and PBR.
- Emergency Budget 2010 (under the new coalition government)
- Budget 2010
- Pre-Budget report 2009
- Budget 2009
- Pre-Budget Report 2008
- Budget 2008
