Government to outline emergency tax and spending plans on June 22nd
Chancellor of the Exchequer George Osborne has announced that the new coalition government will be presenting its emergency Budget on Tuesday 22 June.
In a speech outlining the remit of the new Office of Budget Responsibility tax and spending watchdog, the Chancellor said that the Conservative/Liberal Democrat government’s first Budget will take place exactly six weeks after the formation of the new administration.
Osborne also said that David Laws, the Lib Dem Treasury chief secretary, has written to all Whitehall departments asking them to identify any savings they can make to enable the government to meet its pledge to cut £6bn worth of public spending in the current financial year.
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