Chancellor of the Exchequer George Osborne said Tuesday that he will present the government’s annual budget, detailing taxation and spending plans for the 2013/14 financial year, on March 20.
“Budget 2013 will be on Wednesday, March 20,” Chancellor of the Exchequer Osborne told parliament’s lower House of Commons.
The announcement came less than one week after Osborne had delivered his budget update or Autumn statement.
Osborne had admitted last week that the government would fail to meet its official target for reducing public debt as a proportion of economic output by 2015-16.
And the British people would now suffer austerity until 2018 — three years longer than initially planned — as a result of gloomy downgrades to official economic growth forecasts.
The Chancellor has meanwhile defended his handling of the economy after Fitch warned that the budget update had sparked questions over the nation’s top AAA credit rating.
Osborne sets date for budget
