31 July 2024
Rachel Reeves has announced that this years’ budget will take place on 30 October.
Back in February 2024, the Labour party implied that when they’re elected, they would hold one single budget annually, at the end of November each year.
Noting that should an autumn budget may not practical this year, depending on the timing of the general election.
Considering all relevant factors, such as the involvement of the Office of Budget Responsibility (OBR), and Parliament’s summer recess, it was anticipated that the Labour Party’s 2024 budget would be around mid-late September.
During the Chancellor’s address to the commons this afternoon, 29 July, Rachel Reeves set out plans, aimed at plugging the gap in public finances, and confirmed that the next budget will be held on 30 October 2024.
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