In the United Kingdom, taxation may involve payments to at least three different levels of government: central government, devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2014–15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion.
In the UK tax system, personal allowance is the threshold above which income tax is levied on an individual's income. A person who receives less than their own personal allowance in taxable income in a given tax year does not pay income tax; otherwise, tax must be paid according to how much is earned above this level. Certain residents are entitled to a larger personal allowance than others. Such groups include: the over-65s, blind people, and married couples where at least one person in the marriage was born before 6 April 1935. People earning over £100,000 a year have a smaller personal allowance. For every £2 earned above £100,000, £1 of the personal allowance is lost; meaning that incomes high enough will not have a personal allowance.
The June 2010 United Kingdom Budget, officially also known as Responsibility, freedom, fairness: a five-year plan to re-build the economy, was delivered by George Osborne, Chancellor of the Exchequer, to the House of Commons in his budget speech that commenced at 12.33pm on Tuesday, 22 June 2010. It was the first budget of the Conservative-Liberal Democrat coalition formed after the general election of May 2010. The government dubbed it an "emergency budget", and stated that its purpose was to reduce the national debt accumulated under the Labour government.
The 2011 United Kingdom budget, officially called 2011 Budget – A strong and stable economy, growth and fairness, was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on 23 March 2011.
The 2013 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday 20 March 2013.
The 2000 United Kingdom Budget, officially known as Budget 2000 - Prudent for a Purpose: Working for a Stronger and Fairer Britain was the formal government budget for the year 2000.
The March 2021 United Kingdom budget, officially known as Protecting the Jobs and Livelihoods of the British People was a budget delivered by Rishi Sunak, the Chancellor of the Exchequer in March 2021. It was expected to be delivered in autumn 2020, but was postponed because of the COVID-19 pandemic. It succeeds the budget held in March 2020, and the summer statement and Winter Economy Plan held in summer and autumn 2020, respectively. The budget is the second under Boris Johnson's government, also the second to be delivered by Sunak and the second since Britain's withdrawal from the European Union. The budget was the first for government expenditure in the United Kingdom to exceed £1 trillion.
Gordon Brown served as Chancellor of the Exchequer of the United Kingdom from 2 May 1997 to 27 June 2007. His tenure was marked by major reform of Britain's monetary and fiscal policy architecture, transferring interest rate setting powers to the Bank of England, by a wide extension of the powers of the Treasury to cover much domestic policy and by transferring responsibility for banking supervision to the Financial Services Authority. Brown presided over the longest period of sustained economic growth in British history. He had previously served as Shadow Chancellor of the Exchequer in Tony Blair's Shadow Cabinet from 1994 to 1997. As Shadow Chancellor, Brown as Chancellor-in-waiting was seen as a good choice by business and the middle class.
The October 2021 United Kingdom budget, officially known as the Autumn Budget and Spending Review 2021. A Stronger Economy for the British People, was a budget statement made by Chancellor of the Exchequer Rishi Sunak on 27 October 2021. It was the third and final consecutive budget delivered by Sunak before his resignation in July 2022.
The 1988 United Kingdom budget was delivered by Nigel Lawson, the Chancellor of the Exchequer, to the House of Commons on 15 March 1988. It was the fifth budget to be delivered by Lawson during his tenure as Chancellor, and marked major changes to taxation, with reductions in income tax and changes to inheritance tax rules, as well as changes to mortgage interest relief that prevented homebuyers from being able to pool mortgage allowances. The changes announced to mortgage relief ultimately helped to further fuel an ongoing property boom which led to a rise in inflation and an increase in interest rates. Due to frequent disruptions during the Chancellor's speech, Deputy Speaker Harold Walker was required to suspend proceedings in what was described as an outbreak of "grave disorder".
The 1998 United Kingdom budget was delivered by Gordon Brown, the Chancellor of the Exchequer, to the House of Commons on 17 March 1998. It was the second budget to be presented by Brown following Labour's 1997 general election win, and sought to maintain the broad public support given to Labour in 1997 by announcing measures that would appeal to those who had voted the party into office. One of the key features of the 1998 budget was the Working Families Tax Credit, a benefit that could be claimed by families on low income. Brown also announced tax cuts for businesses, the launch of a £50m rural transport fund, and committed to taxing child benefit at a future date.
The 1996 United Kingdom budget was delivered by Kenneth Clarke, the Chancellor of the Exchequer, to the House of Commons on 26 November 1996. It was Clarke's fourth budget, the last to be delivered during his tenure as chancellor, and the last budget to be presented by the Conservative government of John Major before the party was defeated by Labour in the 1997 general election. Prior to Clarke's budget statement being presented to the House of Commons, its contents were leaked to the Daily Mirror, which returned the document to the government but decided to print some of the details, thus helping Tony Blair, then the leader of the Opposition, to prepare his response. Clarke described his statement as one that outlined a "Rolls-Royce recovery – built to last" and predicted economic growth of 2.5% for 1997 and 3.5% for 1998, but Blair dismissed it as "a last-gasp budget of a government whose time is up".
The 1995 United Kingdom budget was delivered by Kenneth Clarke, the Chancellor of the Exchequer, to the House of Commons on 28 November 1995. It was Clarke's third budget, and one of the shortest budget speeches in modern history. In his statement, Clarke reduced the middle rate of income tax by 1p to 24p, and after announcing that his spending reductions for the previous year had exceeded expectations by more than £3bn, announced plans to increase spending on healthcare, education and policing. His budget was criticised by members of the Conservative Party for not including more tax cuts, while Shadow Chancellor Gordon Brown of the Labour Party dismissed it as "the 7p up, 1p down budget".
The November 1993 United Kingdom budget was delivered by Kenneth Clarke, the Chancellor of the Exchequer, to the House of Commons on 30 November 1993. It was the second budget to be presented in 1993, and the first to be presented by Clarke following his appointment as Chancellor by Prime Minister John Major earlier that year. The November 1993 budget was also the first in the modern era to be held in the autumn, the government having decided to move the date of the budget so it could outline its tax and spending plans at the same time.
The March 1993 United Kingdom budget was delivered by Norman Lamont, the Chancellor of the Exchequer, to the House of Commons on 16 March 1993. It was the third and final budget to be presented by Lamont during his tenure as chancellor, and the final spring budget to be outlined before the Conservatives unified their tax and spending plans into one budget statement.
The 1992 United Kingdom budget was delivered by Norman Lamont, the Chancellor of the Exchequer, to the House of Commons on 10 March 1992. It was the second budget to be presented by Lamont. It was also the last before the 1992 general election, which was called the following day, and shaped the Conservative Party's election campaign for that year.
The 1985 United Kingdom budget was delivered by Nigel Lawson, the Chancellor of the Exchequer, to the House of Commons on 19 March 1985. The second budget to be presented by Lawson, it was held shortly after the end of the year-long 1984–85 miners' strike. The chancellor said the cost of the strike on public borrowing had impacted on his plans for tax reductions, although he did make some changes to income tax personal allowances and stamp duty. Changes to National Insurance were also announced, but threatened to place extra costs on employers.
The 1984 United Kingdom budget was delivered by Nigel Lawson, the Chancellor of the Exchequer, to the House of Commons on 13 March 1984. It was the first budget to be presented by Lawson, who had been appointed as chancellor after the 1983 general election, and saw him embark on "a radical programme of tax reform". These included a reduction in Corporation Tax and a cut in the higher rate of Transfer Tax and raised the Stamp Duty threshold.
The 1983 United Kingdom budget was delivered by Geoffrey Howe, the Chancellor of the Exchequer, to the House of Commons on 15 March 1983. It was the final budget to be presented before the 1983 general election and the last to be presented by Howe. He announced a programme of tax cuts worth around £2bn for individuals and £750m for business, as well as increasing personal allowances by 14%, 8.5% above the rate of inflation. Social Security benefits were also raised. The Conservatives went on to win the election, but Howe would subsequently be replaced as chancellor by Nigel Lawson in a post-election cabinet reshuffle.
The 2024 United Kingdom budget was delivered to the House of Commons by Jeremy Hunt, the Chancellor of the Exchequer, on 6 March 2024. It was the third budget presented by Hunt since his appointment as Chancellor, and is expected to be the final budget before the next United Kingdom general election.
