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Chancellor announces Emergency Budget to be unveiled in July.

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Following the Conservative party winning a majority in this year’s General Election, the Chancellor of the Exchequer, Mr George Osbourne MP is set to unveil an Emergency Budget on July 8th.

Mr Osbourne said the budget will reward working people, cut the deficit to £75bn by the end of the year and will also outline plans to have the UK running a surplus by the end of the Parliamentary term in 2020. The budget will also outline plans to create 3 million apprenticeships across the UK.

However, the main feature of the budget will be the next wave of cuts, expected to amount to £12bn.

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