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Pre-Budget Report
The Spring Statement of the British Government, also known as the "mini-budget", is one of the two statements HM Treasury makes each year to Parliament upon publication of economic forecasts, the second taking place the previous year as the Autumn Budget. At 2016's autumn statement, it was announced the budget would move to the autumn, with a spring statement taking place the following year. Both usually involve speeches in the House of Commons by the Chancellor of the Exchequer. The Spring Statement for 2019 took place in March 2019. In 2020 the spring statement was upgraded to a full budget following cancellation of autumn 2019's budget. and additional statements were made in summer and autumn 2020. In 2021 the spring statement was also replaced by a full budget. History The duty to publish two annual economic forecasts was created by the Industry Act 1975, with the first such publication occurring in December 1976. The first Autumn Statement combined the announcement of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HM Treasury
His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and economic policy. The Treasury maintains the Online System for Central Accounting and Reporting (OSCAR), the replacement for the Combined Online Information System (COINS), which itemises departmental spending under thousands of category headings, and from which the Whole of Government Accounts (WGA) annual financial statements are produced. History The origins of the Treasury of England have been traced by some to an individual known as Henry the Treasurer, a servant to King William the Conqueror. This claim is based on an entry in the Domesday Book showing the individual Henry "the treasurer" as a landowner in Winchester, where the royal treasure was stored. The Treasury of the United Kingdom thus traces its origins to the Treasury o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geoffrey Howe
Richard Edward Geoffrey Howe, Baron Howe of Aberavon, (20 December 1926 – 9 October 2015) was a British Conservative politician who served as Deputy Prime Minister of the United Kingdom from 1989 to 1990. Howe was Margaret Thatcher's longest-serving Cabinet minister, successively holding the posts of Chancellor of the Exchequer, Foreign Secretary, and finally Leader of the House of Commons, deputy prime minister and Lord President of the Council. His resignation on 1 November 1990 is widely considered to have precipitated the leadership challenge that led to Thatcher's resignation three weeks later. Early life Geoffrey Howe was born in 1926 at Port Talbot, Wales, to Benjamin Edward Howe, a solicitor and coroner, and Eliza Florence (née Thomson) Howe. He was to describe himself as a quarter Scottish, a quarter Cornish and half Welsh. He was educated at three independent schools: at Bridgend Preparatory School in Bryntirion, followed by Abberley Hall School ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of The United Kingdom
ga, Rialtas a Shoilse gd, Riaghaltas a Mhòrachd , image = HM Government logo.svg , image_size = 220px , image2 = Royal Coat of Arms of the United Kingdom (HM Government).svg , image_size2 = 180px , caption = Royal Arms , date_established = , state = United Kingdom , address = 10 Downing Street, London , leader_title = Prime Minister ( Rishi Sunak) , appointed = Monarch of the United Kingdom (Charles III) , budget = 882 billion , main_organ = Cabinet of the United Kingdom , ministries = 23 ministerial departments, 20 non-ministerial departments , responsible = Parliament of the United Kingdom , url = The Government of the United Kingdom (commonly referred to as British Government or UK Government), officially His Majesty's Government (abbreviated to HM Government), is the central executive authority of the United Kingdom of Great Britain and Northern Ireland. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debates In The House Of Commons Of The United Kingdom
Debate is a process that involves formal discourse on a particular topic, often including a moderator and audience. In a debate, arguments are put forward for often opposing viewpoints. Debates have historically occurred in public meetings, academic institutions, debate halls, coffeehouses, competitions, and legislative assemblies. Debate has also been conducted for educational and recreational purposes, usually associated with educational establishments and debating societies. These debates put an emphasis upon logical consistency, factual accuracy, and emotional appeal to an audience. Modern forms of competitive debate also include rules for participants to discuss and decide upon the framework of the debate (how the debate will be judged). History Debating in various forms has a long history and can be traced back to the philosophical and political debates of Ancient Greece, such as Athenian democracy or Shastrartha in Ancient India. Modern forms of debating and the e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Policy
In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s, when the previous laissez-faire approach to economic management became unworkable. Fiscal policy is based on the theories of the British economist John Maynard Keynes, whose Keynesian economics theorised that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity. Fiscal and monetary policy are the key strategies used by a country's government and central bank to advance its economic objectives. The combination of these policies enables these authorities to target inflation (which is considered "healthy" at the level in the range 2%–3%) and to increase employment. Additionally, it is designed to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute For Fiscal Studies
The Institute for Fiscal Studies (IFS) is an economic research institute based in London, United Kingdom, which specialises in UK taxation and public policy. It produces both academic and policy-related findings. The institute's aim is to "advance education for the benefit of the public by promoting on a non-political basis the study and discussion of and the exchange and dissemination of information and knowledge concerning national economic and social effects and influences of existing taxes and proposed changes in fiscal systems." It is located in the Bloomsbury area of Central London close to the British Museum and University College London (UCL). History The institute was founded in response to the passing of the Finance Act 1965, by four financial professionals: a banker and later Conservative Party politician ( Will Hopper), an investment trust manager (Bob Buist), a stockbroker (Nils Taube), and a tax consultant ( John Chown). In 1964, the then Chancellor of the Ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
November 2022 United Kingdom Autumn Statement
The November 2022 United Kingdom autumn statement was delivered to the House of Commons on 17 November 2022 by Chancellor of the Exchequer Jeremy Hunt, after being delayed by three weeks from its original scheduled date of 31 October. The budget addressed the ongoing cost of living crisis, and saw the announcement of a five-year package of tax increases and spending cuts designed to steer the UK through recession. An economic forecast published on the same day by the Office for Budget Responsibility (OBR) stated the UK had entered a recession after experiencing two quarters of a shrinking economy, and predicted the UK's economy would shrink during 2023. A reduction in households' disposable income was also forecast. In his statement, Hunt committed to maintaining scheduled public spending plans until 2025, but said that spending would slow after then. He also lowered the threshold at which earners become eligible to pay the top rate of income tax, and announced an increase in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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