Chancellor of a Exchequer, George Osborne, done a financial matter to a House of Commons on Tuesday 29 Nov 2011, famous as a Autumn Statement.
The Chancellor of a Exchequer, George Osborne, delivered his Budget Statement on 23 Mar 2011 on a state of a inhabitant finances, Government’s proposals for changes to taxation and expansion forecasts.
The Autumn Statement provides a Chancellor an event to refurbish MPs on a Office for Budget Responsibility’s (OBR) expansion forecasts for a UK economy and a open finances.
The OBR has published revised expansion forecasts for a economy and a Government’s targets for open borrowing and debt on Tuesday 29 November. Further information on a OBR forecasts can be found on a website.
The House of Commons Library has constructed a lecture paper on a Background to a 2011 Autumn Statement.
Why is there an Autumn Statement?
The Government is legally compulsory to tell a financial news on a state of a economy twice a year. From Dec 1976 until Nov 1992, a Chancellor of a Exchequer done an Autumn Statement to a House of Commons in further to a annual Budget Statement in a Spring.
The Spring Budget and a Autumn Statement were joined and a “unified-Budget” was presented to Parliament in Nov 1993. The unified-Budget was afterwards transposed in 1997 with a normal Spring Budget and a announcement of a new Pre-Budget Report in a autumn.
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