June 2010 United Kingdom budget
The June 2010 United Kingdom Budget, officially also known as Responsibility, freedom, fairness: a five-year plan to re-build the economy, was delivered by George Osborne, Chancellor of the Exchequer, to the House of Commons in his budget speech that commenced at 12.33pm on Tuesday, 22 June 2010 (just 90 days after the previous budget speech). It was the first budget of the Conservative-Liberal Democrat coalition formed after the general election of May 2010. The government dubbed it an "emergency budget", and stated that its purpose was to reduce the national debt accumulated under the Labour government.
| Presented | 22 June 2010 (Tuesday) |
|---|---|
| Parliament | 55th |
| Party | Conservative/Liberal Democrat coalition |
| Chancellor | George Osborne |
| Total revenue | £548 billion (40% of 2009 GDP) |
| Total expenditures | £697 billion (51% of 2009 GDP) |
| Deficit | £149 billion (11% of 2009 GDP) |
| Website | |
‹ March 2010 2011 › | |
In his budget speech Osborne quoted data and forecasts made by the independent Office for Budget Responsibility that was formed by the coalition soon after they took up office.
The preceding budget of the Labour Party in March was only partly enacted due to the calling of the election.