A guide to the UK Budget 2016

Published on: 03/17/16 11:18:am Budget header

The Chancellor of the Exchequer George Osborne will share his Budget for the year ahead on Wednesday 16th March.

This will be his 7th budget and the second under a majority Conservative government. The budget is due to be unveiled at around 12:30pm shortly after Prime Ministers Questions

What can we expect?

As with most budgets since the financial crisis of 2008 the chancellor is still focused on reducing the UK’s budget deficit. As it looks increasingly unlikely Osborne will meet his targets on time it is expected that more spending cuts will be announced and more income will be raised through taxes.

It is highly unlikely that any taxes will be added to pasties this time but with the price of petrol down, an increase in fuel tax could be unveiled. It is also thought that the pension system will be tinkered with again with rumours of a removal of the 25% tax free lump sum rightly causing concern for savers.

Where can I watch the Budget?

The UK budget will be screened live across many news channels including the BBC Parliament channel

Social media will no doubt be busy with tweeters using the hashtag #BUDGET2016 to share their views.
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You can follow GWM on Twitter and LinkedIn for updates throughout the chancellor’s speech

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