The Autumn Budget is one of two major financial announcements given in a financial year. The other is the Spring Statement. The financial year (not to be confused with the fiscal year which runs from 5th April) runs from 1st April to 31st March .
Historically, the Budget was announced in the spring. However, this meant that changes outlined in the Spring Budget did not come into effect until the end of the summer, after the financial year had already got underway. In 2017 the Budget was moved to the autumn to allow for enough time to pass legislation before the start of the financial year.
The Budget always includes announcements about Income Tax and Corporation Tax, as these are annual taxes which have to be renewed by legislation each year. The Budget also includes information about the state of the UK economy, proposals for public expenditure for the next financial year and proposals to generate revenue.
AELP has today published its Autumn Budget consultation submission – estimating that government investment in skills could lead to over 500,000 high-quality apprenticeships per year…
The Chancellor Jeremy Hunt and the Secretary of State for Work and Pensions Mel Stride will unveil their Back to Work Plan – a package…
Sir Michael Barber is an educationalist whose own academic background and career reflects those of other recent ‘skills advisers’ to occupy the space: Baroness Wolf,…
In the weeks before Chancellor of the Exchequer Jeremy Hunt delivered his much-awaited Autumn Statement, we knew, at least in broad strokes, what was coming.…
Heading into the Chancellor’s Autumn Statement, I, like many others, felt cynical about what was to come. This cynicism was occasionally interrupted by a glimmer…
What a difference a couple of months makes. Having undone the substance of Kwasi Kwarteng’s catastrophic mini Budget in October, Jeremy Hunt could not have…
The Chancellor’s Autumn Statement has piled further pressure on ‘the squeezed middle’, with personal tax rises announced during the parliament set to deliver a permanent…
The Chancellor has responded to a grim economic outlook with renewed energy support next year and a backloaded fiscal tightening, combining huge stealth tax rises…
Families the Chancellor has pledged to help will still be worse off next year even with the support announced in today’s (Thursday 17 November) Autumn…
Chancellor Jeremy Hunt gave his Autumn Statement today (17th November 2022), confirming that the UK is now in recession, calling it a ‘Recession made in…
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