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Budget Day Guide
Date Added: Mon April 20 2009
The Chancellor of the Exchequer, Rt Hon Alistair Darling MP, will present his 2009 Budget statement on Wednesday 22 April at 12.30pm.

The Budget is the Government's annual financial statement and review of levels of taxation. It also includes the Government's future financial strategy and economic forecast. The Chancellor of the Exchequer delivers the Budget speech in the House of Commons.

The Budget Speech
The Chancellor’s speech usually has two parts: the first part gives a summary of the economic situation, while the second gives a more detailed account of specific measures the government has or intends to introduce to raise money to finance its spending. It’s usually in this second part that tax changes, such as any changes in income tax or VAT, that affect individuals' income and spending are announced.

After the Chancellor's Budget speech, the Leader of the Opposition, rather than the Shadow Chancellor replies. The Chancellor of the Exchequer traditionally makes a Budget Day broadcast to the nation during the evening of Budget Day. The broadcast provides the Chancellor with a further opportunity to outline the intentions and ideas to the public. The Opposition Parties have an opportunity to respond in their own broadcasts during Budget week.

There are usually four or five days of debate on the 'Budget Resolutions' (the basic parts of the Budget that renew annual taxes, such as income tax), covering different policy areas such as health, education and defence. Finally, the Finance Bill makes the tax proposals announced in the Budget into law. (Source: Directgov)