The Budget is set to be unveiled this week by the Chancellor, revealing how much of money the Government will take in tax and what it plans to spend on. The Budget, also known as the financial statement, is a statement on the nation’s finances and includes economical forecasts.
During the budget, the current Chancellor of the Exchequer will deliver a number of statements on the financial plans for the year. It will include whether the government plans to raise or lower taxes.
It also includes big decisions on spending on health, education, policing, social care and other public services. This year, it is expected that there will be a particular focus on energy bills and the cost of living.
