House Of Commons: Budget Statement
Chancellor of the Exchequer, Philip Hammond, representing the ruling Conservative Party delivers the Budget Statement to the House of Commons.
Jeremy Corbyn, Leader of the Labour Party, responded on behalf of the Opposition during the debate on the Budget Resolutions.
Note: It is customary for the Leader of the Opposition to respond to the speech given by the Chancellor rather than the Shadow Chancellor. The Shadow Chancellor makes his response the day after the Budget statement during the Budget debates.
About the Budget
Every year the Chancellor of the Exchequer makes a major speech to the House of Commons on the state of the national finances and the Government's proposals for changes to taxation. This statement is known as the Budget.
The Budget statement includes: a review of how the UK economy is performing, forecasts of how the UK economy will perform in the future and details of any changes to taxation.