Emergency Budget
Published / Last Updated on 16/05/2010
by Ashley Clark, Director
The Chancellor of the Exchequer George Osborne has announced the date for the coalition government’s emergency budget as the 22 June 2010.
On the same day he announced the creation of the Office of Budget Responsibility. This department will be responsible for growth and borrowing forecasts. According to Mr Osborne, Labour forecasts were not accurate and manipulated to show what the Government wanted, rather than an accurate picture. The new department will be tasked with tackling the budget deficit of £163bn.
The main focus of the budget will be spending cuts of around £6bn promised in the run up to the election.
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