Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

George Osborne sets summer budget date so Tories can keep 'election pledges'

Mr Osborne could unveil where £12bn in welfare cuts will fall

Ben Chu
Saturday 16 May 2015 11:35 BST
Comments
Cities will need 'a single point of accountability,' the Chancellor will say
Cities will need 'a single point of accountability,' the Chancellor will say (Getty Images)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The Chancellor George Osborne has said he will unveil the first Budget of a majority Conservative government on 8 July.

Mr Osborne could unveil where £12bn in welfare cuts, which the Tories have said they will make over the next five years as part of their quest to run an absolute budget surplus, will fall. Only £2bn of this total has so far been specified.

The Chancellor’s summer Budget is also expected to include measures to make economies in Whitehall and to crack down on tax avoidance.

“I am going to take the unusual step of having a second Budget of the year – because I don’t want to wait to turn the promises we made in the election into a reality,” Mr Osborne writes in The Sun newspaper.

But the main fiscal event of the year is likely to be the next departmental Spending Review, at which the Chancellor will unveil where an estimated £30bn of cuts will be found across Whitehall. The existing spending-review period only extends to next March, which means a new programme must be in place by the end of the year.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in