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Pie chart of UK government spending, 2023-24. [2]The most significant area of government spending is welfare (£341 billion in financial year 2023-24), [2] with the largest single element of this being for the State Pension, which totals £124 billion.
Since autumn 2017 the United Kingdom budget typically takes place in the Autumn in order to allow major tax changes to occur annually, well before the start of the fiscal year. [2] The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year.
As both the UK's then fiscal rules (the "Golden Rule" and the sustainable investment rule) began to bite, [vague] [citation needed] the UK government desired to halve the real rate of growth in public spending from 4% per annum over the last decade to 2% per annum over the next three years – a 0.5% below than the trend rate of growth of the ...
A government department spent almost £1,200 of taxpayers' money on two ministerial folders, official figures show. It came as Chancellor Rachel Reeves launched a crackdown on government waste.
Austerity in the United Kingdom (2 C, 5 P) B. ... Pages in category "Government spending in the United Kingdom" The following 6 pages are in this category, out of 6 ...
The OBR examines and reports on the sustainability of the public finances and provides analysis and forecasts on the economy at the time of the UK Government's Budget and Spring Statements. [1] The functions and responsibilities of the OBR are contained within the 2011 Act. [3] It has four main duties: [1]
Public Expenditure Statistical Analyses (PESA) is a programme of HM Treasury in the United Kingdom. [1] It serves two purposes: 1) providing information on government spending plans and outturn and 2) presenting statistical analyses of public expenditure. PESA presents spending against two Treasury-defined frameworks.
The March 2017 United Kingdom budget was delivered by Philip Hammond, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 8 March 2017. The last budget to be held in the spring until 2020 , it was Hammond's first as Chancellor of the Exchequer since being appointed to the role in July 2016.