Second Budget set for July 8

18 May 15

There will be a second Budget on July 8 to implement the Conservative manifesto pledges including a £12bn cut to welfare spending, George Osborne announced

Confirming that the statement would update spending plans following the end of the coalition government, Osborne said the ‘unusual step’ would help ‘turn the promises we made in the election into a reality’.

In his original Budget statement on March 18, the chancellor pledged to run a surplus from 2018/19 and to end the government’s austerity programme by increasing public spending the following year

In an article for The Sun, published on Saturday, Osborne said the Budget would also meet the Conservative Party’s pledges to protect NHS funding reduce the deficit. As well as promising to cut welfare spending by £12bn in the next two financial years, the Conservatives also vowed to raise at least £5bn by tackling tax evasion and aggressive tax avoidance, and £13bn from departmental savings.

‘In the last few months I’ve visited so many different workplaces, from brickworks to bakeries, boatyards to breweries and call centres to construction sites,’ he said.

‘The working people I’ve met don’t have pressure groups or big trade unions to represent them. But they are the heart and soul of this country. Without your efforts we’d have nothing.

‘In this summer Budget, I’ll back working people, and show how this new government is on your side.’

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