The Chancellor of the Exchequer, George Osborne MP, presented his Budget to Parliament on 8th July 2015. This is the first Budget of the current Conservative Government following the pre-election Budget of the coalition Government presented on March 19th. In his Budget speech the Chancellor outlined how the Government plans to raise and spend money in the coming year. Some key points of the Budget include:-
- Student maintenance grants will be replaced by maintenance loans (up to £8,200) from 2016/17. These will be repayable when personal earning are over £21,000 per year
- Public sector pay-rises to be capped at 1% per year until 2019
- Those aged 18-21 will no longer be able to claim housing benefit automatically
You can find all of the Budget documents on-line on the HM Treasury Website.
The House of Commons Library has produced a briefing paper on the Background to the 2015 Budget.
The full text of the Chancellor’s statement is available from the HM Treasury website.
For any further information on Official Publications, or economic statistics produced by the Government, contact the Maps, Official Publications and Statistics Unit on level 7 of the Library.