Key tax dates and deadlines for 2018/19
It is an inevitable reality that, for anyone earning a livin...
By Chris Martins D'Almeida on 15th March 2016
George Osborne, Chancellor of the Exchequer, will publish his Budget for 2016 on Wednesday the 16th March.
Each Spring – usually in March or April – the Chancellor of the Exchequer presents his annual statement to members of Parliament in the House of Commons.
What is The Budget?
It is an annual update on how the Government plans to spend revenue from taxes. This sets out the Government’s plans for the economy based on forecasts from the Office for Budget Responsibility, as well as any proposals from the Government for changes to taxation.
Under Osborne, it is also about how the Government plans to cut its spending as he tries to cut the deficit by 2020.
How can I watch it?
The Budget announcement will be broadcast live on Wednesday March 16th at around 12.30pm. It usually lasts about an hour.
You can watch live on the BBC News and Parliament Channels, as well as BBC Two. Coverage begins at 11.30am.
Sky News and ITV will also broadcast the speech live, or you can listen to the speech on BBC Radio 4. It’s also available online at Parliment.tv
After the announcement, some measures will come into effect on the same day or the day after (such as any changes to alcohol or tobacco duty).
We will also be tweeting live all the key announcements from the Budget 2016 on our twitter page here.
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