The chancellor of the Exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the chief executive officer of His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet and is third in the ministerial ranking, behind the prime minister and the deputy prime minister.
George Gideon Oliver Osborne is a former British politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the Cameron government. A member of the Conservative Party, he was Member of Parliament (MP) for Tatton from 2001 to 2017. He was editor of the Evening Standard from 2017 to 2020.
A spending review or occasionally comprehensive spending review is a governmental process in the United Kingdom carried out by HM Treasury to set firm expenditure limits and, through public service agreements, define the key improvements that the public can expect from these resources.
Taxation in the United Kingdom 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.
Sir Daniel Grian Alexander is a British banker who is vice president for policy and strategy at the Asian Infrastructure Investment Bank. He was a Liberal Democrat politician who was Chief Secretary to the Treasury between 2010 and 2015. He was the Member of Parliament (MP) for the Inverness, Nairn, Badenoch & Strathspey constituency from 2005 until the general election in May 2015, when he was defeated by Drew Hendry of the Scottish National Party (SNP). In his first parliamentary term (2005–2010), Alexander was the Liberal Democrat spokesperson for Work and Pensions (2007–2008), the Chief of Staff to party leader Nick Clegg, and Chair of the Liberal Democrat Manifesto Group (2007–2010).
Benedict Michael Gummer is a British businessman and former politician. He is a partner of Gummer Leathes, a property developer. He is a senior adviser to McKinsey & Company, the management consultancy, a visiting fellow at the Blavatnik School of Government at Oxford University and a member of the advisory board of the Office for Place.
The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the UK Treasury, that the UK government established to provide independent economic forecasts and independent analysis of the public finances. It was formally created in May 2010 following the general election and was placed on a statutory footing by the Budget Responsibility and National Audit Act 2011. It is one of a growing number of official independent fiscal watchdogs around the world.
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 United Kingdom national debt is the total quantity of money borrowed by the Government of the United Kingdom at any time through the issue of securities by the British Treasury and other government agencies.
The United Kingdom government austerity programme is a fiscal policy adopted in the early 21st century following the Great Recession. The term was used by the Coalition and Conservative governments in office from 2010 to 2019, and again during the 2021–present United Kingdom cost of living crisis. The government claimed that it was a deficit reduction programme consisting of sustained reductions in public spending and tax rises, intended to reduce the government budget deficit and the role of the welfare state in the United Kingdom. Some observers accepted this claim, but scholars have suggested that in fact its primary – largely unstated – aim, like most austerity policies, was to restore the rate of profit. The Conservative government claimed that the National Health Service and education have been "ringfenced" and protected from direct spending cuts, but between 2010 and 2019 more than £30 billion in spending reductions have been made to welfare payments, housing subsidies and social services. The effects of United Kingdom austerity policies have proved controversial and the policies have received criticism from a variety of politicians and economists. Anti-austerity movements have been formed among citizens more generally.
The 2012 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday 21 March 2012.
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 Mayor of Greater Manchester is the directly elected metro mayor of Greater Manchester, responsible for strategic governance in the region that includes health, transport, housing, strategic planning, waste management, policing, the Greater Manchester Fire and Rescue Service and skills. The creation of the Mayor of Greater Manchester was agreed between the then Chancellor of the Exchequer, George Osborne, and Greater Manchester's 10 district council leaders. As well as having specific powers, the mayor chairs the Greater Manchester Combined Authority, also assuming the powers of the Greater Manchester Police and Crime Commissioner.
The 2015 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 18 March 2015.
David Cameron formed the second Cameron ministry, the first Conservative majority government since 1996, following the 2015 general election after being invited by Queen Elizabeth II to form a new administration. Prior to the election Cameron had led his first ministry, the Cameron–Clegg coalition, a coalition government that consisted of members of the Conservatives and the Liberal Democrats, with Liberal Democrat leader Nick Clegg as Deputy Prime Minister.
The 2015 United Kingdom summer budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 8 July 2015.
Pension Wise is a free and impartial pension advice service set up by the government of the United Kingdom in 2015.
The 2016 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 16 March 2016.
George Osborne served as Chancellor of the Exchequer from 2010 to 2016 in the Cameron–Clegg coalition and Cameron majority government. His tenure pursued austerity policies aimed at reducing the budget deficit and launched the Northern Powerhouse initiative. He had previously served as Shadow Chancellor of the Exchequer from 2005 to 2010. He was succeeded by Philip Hammond.
