So when will it be? - the Budget that is...

So when will it be? - the Budget that is...

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I can't remember having to wait so long for the simple announcement of Budget Day - it is of course going to be used as an election tool, but is it any wonder that the value of the £ is going down as a result of uncertainty when we don't know when the election is going to be let alone what it will contain.  Do you think Gordon and Alistair have forgotten?  Most money was on March 17th, and a number of people forecast the 10th, too near now for that one.  24th looks increasingly likely but with Easter in the middle and parliament having to be prorogued around April 14th to allow for a May 6th election.  What's my question? Curiosity really - can anyone remember the last time, in similar circumstances, we were left hanging on so long?

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By cymraeg_draig
02nd Mar 2010 19:35

Cynical but true

Whenever it is it will be pointless.

There is insufficient time for any changes to be enacted, and the whole thing will be an attempt to "buy" votes. 

The next budget that matters will be, at a guess, in the Autumn introduced by the new government.

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By MarionMorrison
02nd Mar 2010 20:39

He's right

I'm sure Vince will want to put something budgetary together reasonably quickly. 

I'd have more respect for Darling if he stood up and said that nothing he can do will have any definitive effect before the election so here's a piece of enabling legislation that passes for a Finance Bill and we'll get back to you.  I believe there is some commitment from the Conservatives to a Budget within X days although I've forgotten the number (100?). 

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By Paul Soper
02nd Mar 2010 21:37

The only problem is....

There won't be a short two or three page Finance Act - the PBR indicated a several hundred page programme of "anti-avoidance" measures - and at this rate Parliament will see it through on a non and a wink basis - and then you will have another budget after the election with more pain to come from whichever party wins the election.  In the meantime we are waiting for confirmation of what is about to happen.

Last year's budget, held on 22 April 2009, was announced on 12 February, at this rate we won't have a budget until after the last date for calling an election by 5 June which is the very last date an election can be called.

I'm not trying to be either clever or political but I really can't recall over the last 40 years a budget announcement which is being covered up to this extent.

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Rebecca Benneyworth profile image
By Rebecca Benneyworth
02nd Mar 2010 22:58

March 24th in my view

We need 6 days minimum for a Finance Bill and this would minimise the time available to plan around any controversial changes if there are any.  I'm gutted as I had everything set up for 17th and I'm pretty certain there isn't time to have it then. All of the rumours I hear suggest that everyone is geared up for 24th - expect an announcement later this week.

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By Paul Soper
02nd Mar 2010 23:17

Hi Rebecca

I'm sure you have the same problem I have - clients who want Budget reviews!!!  I know we can't expect the politicians to arrange these things for lecturer's convenience - but I really can't remember any government leaving it quite this late to announce when the budget is to be held - could it be they are still scrabbling round to try to find attractive enough policies?

What is for certain is that an enormous amount of "anti-avoidance" legislation will be passed through all legislative stages with only a nod and a wink as none of the three parties will want to be seen as opposing these measures.

 

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By cymraeg_draig
02nd Mar 2010 23:33

Smoke & mirrors

Osbourne has already said he will not be bound by any labour tax plans and would "unpick" any changes they make.

He is also committed to cutting tax credits and child trust funds for the better off, and to slashing government expenditure.

What we will get from labour are lots of promises and lots of ludicrous unrealistic forecasts but very little substance. In other words a typical Labour smoke & mirrors effort.

 

Probably the lack of an announcement of the date is because Alister & Gordon aren't talking after Alister's recent revalations about the bullying tactics of number 10., although let's face it, the REAL decisions are all taken by the unelected Mandleson.  

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By User deleted
02nd Mar 2010 23:57

March election

I suspect the Budget has yet to be announced because any announcement would effectively rule out an early election in March. Now the opportunity to announce that has almost/just passed I anticipate an announcement in the coming days.Is the lack of notice really a problem? The Pre-Budget Report is often announced at very short notice- sometimes less than 2 weeks.

 

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By bakeja
03rd Mar 2010 07:19

Mandelson the master manipulater

I am sure Mandelson will set the date as he will choreographing every move Labour's top brass make between now and the election.  I don't like him but he's not stupid.  If he pulls off a decent result for Labour it will be his greatest political triumph although a travesty for the country.

 

-- Advoco Spanish Law & Accountancy http://www.advoco.es

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By Paul Soper
03rd Mar 2010 10:36

March Election?

Probably not - the most cost effective date is May 6th, not because it's Tony Blair's birthday but because it is the day when the whole of England and Wales will have local council elections (even the London Boroughs) to have an election on any other date would lay the government open to accusations of wasting money at a time when that is particularly sensitive.  There MUST be a Finance Act in this session of parliament as well, passed before Parliament is prorogued.  The problem with short notice for me personally, and I suspect Rebecca, is that lot's of accountants want to attend CPD sessions covering the budget content and many firms want to make presentations to their clients.  Some firms have tried to book hotel space for every Thursday morning in March and I've tried to keep every Thursday free for similar reasons.  But it really is a more significant point than my, relatively minor, inconvenience.  The Budget is still, for all that Labour tried to devalue it by leaking the content, a significant milestone in the parliamentary timetable every year and it's absence is disquietening and, I believe, contributing to the sense of unease and destabilisation that seems to be undermining our currency.

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