2014 United Kingdom budget
 | |
| Presented | Wednesday 19 March 2014 |
|---|---|
| Parliament | 55th |
| Party | Coalition government |
| Chancellor | George Osborne |
| Total revenue | £648 billion ($1.1 trillion) (39% of 2014 GDP) |
| Total expenditures | £732 billion ($1.2 trillion) (42% of 2014 GDP) |
| Deficit | £84 billion (5% of 2014 GDP) |
| Website | Budget 2014 documents |
|
‹ 2013 2015› | |
The 2014 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 19 March 2014.
It was the fifth budget of the Conservative–Liberal Democrat coalition government formed after the 2010 general election, and also the fifth to be delivered by Osborne.[1][2][3][4]
Taxes
[edit]| Receipts | 2014-15 Revenues (£bn) |
|---|---|
| Income Tax | 167 |
| National Insurance | 110 |
| Value Added Tax (VAT) | 111 |
| Corporate Tax | 41 |
| Excise duties | 47 |
| Council Tax | 27 |
| Business rates | 27 |
| Other | 118 |
| Total Government revenue | 648 |
Spending
[edit]| Department | 2014-15 Expenditure (£bn) |
|---|---|
| Social protection | 222 |
| Health | 140 |
| Education | 98 |
| Debt interest | 53 |
| Defence | 38 |
| Public order and safety | 32 |
| Personal social services | 31 |
| Housing and Environment | 25 |
| Transport | 23 |
| Industry, agriculture and employment | 17 |
| Other | 53 |
| Total Government spending | 732 |
References
[edit]- ^ "George Osborne defends pensions overhaul". Guardian. 19 March 2014. Retrieved 20 March 2014.
- ^ "George Osborne unveils major pensions and savings shake-up". The Independent. 19 March 2014. Retrieved 20 March 2014.
- ^ "Budget 2014: savers placed at heart of Britain's economic recovery". Daily Telegraph. 19 March 2014. Retrieved 20 March 2014.
- ^ "Key points of Budget 2014: At-a-glance". BBC News. 19 March 2014. Retrieved 20 March 2014.
External links
[edit]- 2014 United Kingdom budget at Gov.uk
