Surprise summer Budget on way

Chancellor of the Exchequer George Osborne has announced there will be a surprise second Budget in July.

Following the Conservative victory in the 7 May general election, he confirmed on 16 May that there would be a summer Budget on 8 July.

Writing in the Sun newspaper, Mr Osborne said: “I am going to take the unusual step of having a second Budget of the year – because I don’t want to wait to turn the promises we made in the election into a reality.”

Mr Osborne, who delivered his original Budget on 18 March, also pledged that it would be “a Budget for working people” and would contain “a laser-like focus on making our economy more productive so we raise living standards across our country”.

As with the March Budget, we will be issuing a special report on the summer Budget, highlighting all the key announcements affecting you and your business.