By james art After Labour’s landslide victory in July, Prime Minister Sir Keir Starmer warned that “tough decisions” were needed to grow the economy and get public services “up and running again”.
The Labor Party accused the previous Conservative government of leaving a £22 billion “black hole” in the public finances.
With not much time left before the government sets out its financial plans, here’s everything you need to know.
What is the budget?
According to Parliament’s website, the UK budget is a statement made to the House of Commons about the country’s finances and sets out proposals from the government.
This also includes a forecast for the economy from the Office for Budget Responsibility (OBR).
When will the 2024 Autumn Budget take place?
The Autumn Budget 2024 will take place on Wednesday 30 October shortly after 12.30pm. This is expected to last about an hour.
The last budget was held under the previous government and was held during the last parliament on 6 March 2024.
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How to watch the autumn budget
Those wishing to watch this year’s Autumn Budget can do so on the BBC website and BBC News. It will also be available for streaming on Parliament TV.
The Budget will be presented by Chancellor Rachel Reeves, with the first phase of the statement usually starting with an overview of the nation’s finances before setting out government proposals.