Chancellor George Osborne to deliver new budget on 8 July

first_img Share 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 we made in the election into a reality,” he wrote in The Sun newspaper. The Tories have pledged to make £12bn in welfare cuts over the next five years – however only £2bn has been identified according to the Institiute for Fiscal Studies – leaving many eager to hear where else the axe will fall.”We will protect the NHS and give it more funding each and every year, while making savings across Whitehall,” he said.”We’ll crack down hard on tax avoidance and aggressive tax planning by the rich – because everyone should pay their fair share.”The Office for Budget Responsibility forecasts government borrowing will be cut to £41bn in 2016-17 and £14.5bn the year after. It predicts the government will be running a budget surplus of £4bn by 2018-19.What Osborne referred to as the “unusual” timing of the budget will enable the Office for Budget Responsibility to draw up new forecasts. Chancellor George Osborne to deliver new budget on 8 July Tags: Budget 2016 George Osborne July Budget 2015 People Saturday 16 May 2015 3:56 am Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunInvestment GuruRemember Cote De Pablo? Take A Deep Breath Before You See Her NowInvestment GuruForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorTotal PastAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongTotal PastOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express whatsapp whatsapp Jessica Morris last_img

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