Chancellor George Osborne has delivered the Coalition Government's first Budget on Tuesday 22 June
Chancellor George Osborne has delivered the Coalition Government’s first Budget on Tuesday 22 June.
Watch the statement again (in Commons Statements section)
June Budget documents (HM Treasury website)
The Budget sets out a five-year plan to rebuild the British economy based on the Government’s values of responsibility, freedom and fairness.
It shows how the government will make the tough choices required to tackle Britain’s record deficit and sets out a plan to get the public finances back under control, and provides a springboard for a private sector-led recovery with balanced growth across sectors and regions.
Speaking after the Budget, the Chancellor said:
Yes it is tough, but it also fair. Everyone will share in the rewards when we succeed. When we say that we are all in this together, we mean it.
The Chancellor also announced cuts across all government departments of 25% over four years - except health and foreign aid which will be ringfenced.
Read more about the Budget on the Treasury’s website