2014 United Kingdom budget
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.
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| 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 › | |
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
| 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
| 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
- "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.
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