Budget to be held on March 24th, Gordon Brown announces

Wednesday 10th March 2010

The 2010 Budget will be held on March 24th, Gordon Brown today announced, six weeks ahead of the expected date of the general election.

The prime minister is yet to confirm when the country will go to the polls, but it is all but certain to be May 6th.

In the Budget Labour are due to set out plans to cut the UK's deficit, which is likely to peak at £178 billion this year.

In his speech today the PM warned that the UK was not yet recession-free, saying there were "bumps in the road" but the country would "weather the storm together".

As well as setting the day for the Budget, Mr Brown confirmed a pay freeze on senior public employees.

Mr Brown said the worst of the recession was over but agreeing with many forecasters deemed it still "fragile". He told the press conference in Canary Wharf that despite recent positive signs: "Let us be clear: although the economy is now growing, recovery is still in its early stages - and remains very fragile. There will be many months ahead of conflicting statistics, false hopes and mixed signals.

"In my view we are nearly there in repairing the global financial system. But there is nothing pre-ordained or automatic about the upturn, either here or around the world. While we have come through the worst of this dreadful storm, the waters are still choppy. There are still real risks to the recovery."

The economy is likely to be the central point for the three main political parties in the upcoming election – with the reduction of the country's deficit at the fore. Mr Brown said: "We will set out in more detail in the Budget in two weeks' time how we deliver on our commitment to restore the public finances while protecting the fundamental public services that we all depend on.

"But our approach is clear and we will not be diverted from it.

"We have already announced tax and national insurance increases that are fair so that we can both cut the deficit and protect hospitals schools and policing. And we are taking the tough decisions on spending."

The Public and Commercial Services (PCS) union went on strike earlier this week over changes to the civil service compensation scheme, but Mr Brown said this morning there must be an "equally disciplined approach".

"Part of our tough approach on spending will be the tough approach to pay in the public sector we see announced today.

"Last week I said that the parliamentary and ministerial salaries of all paid government ministers would be frozen.

"We must take an equally disciplined approach to pay and benefits right across the public sector," he added.

Related News

<< Back To News Listings

News Article Search