George Osborne
Image Source: mrgarethm
Jamie Hardesty

Member Article

Budget 2016: Osborne to outline economic plans at 12.30 today

At 12.30 GMT today, after Prime Minister’s questions at midday, Chancellor George Osborne will deliver his eighth budget.

Outlining the UK’s financial position, Osborne will proceed to propose tax changes in order to balance the government’s books.

With spending cuts and funding to convert schools into academies certain to form key pillars of today’s speech, man eyes willbe looking at how Osborne reacts to the current unrest amidst the energy sector.

On top of this, ahead of the UK voting on its EU membership, of which the present government wishes to remain part of, the Chancellor will be keen to avoid making an announcement which adds fuel to the fire of the debate on Europe.

The Opposition

Labour leader and leader of the opposition Jeremy Corbyn will be the first to respond to Osborne although Shadow Chancellor John McDonnell has already expressed a desire to ‘end cruel cuts’ this week.

McDonnell said: “Only three months ago he came to the House Commons and said our economy was in robust health.

“Now he’s coming to the House of Commons to tell us what serious problems we’re facing. I want no more press releases about infrastructure projects or housing projects that aren’t delivered and aren’t properly funded.”

The shadow chancellor told his opposite number to “stop targeting groups within our society” saying women and disabled people were being unfairly hit by cuts.

“I want him to tell us how he’s going to prepare our economy for the long-term future,” he added.

Budget 2016 on Bdaily

For the past few weeks we’ve been collecting regional opinion ahead of Budget day. Find out what businesses have to say in your region by clicking on the links below.

Budget 2016: A roundup of North East aspirations and predictions

Budget 2016: What Yorkshire businesses want the government to deliver

Budget 2016: Top predictions from North West business leaders

Budget 2016: London and South East SMEs call for less red tape

Look out for reaction from businesses in your region later this week and keep up to date via our Twitter feeds.

Got an opinion on The Budget? Send us your thoughts at editor.bdaily.co.uk

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