Budget statement: 29 October 2018

25 Oct 2020

Chancellor of the Exchequer, Philip Hammond, delivered the Budget Statement to the House of Commons on Monday 29 October 2018.

Jeremy Corbyn, Leader of the Labour Party, responded on behalf of the Opposition during the debate on the Budget Resolutions.

Read a transcript of the debate:

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.

To find out more about the processes and traditions of the Budget in Parliament visit:

You can follow https://twitter.com/HouseofCommons for official news and information for the UK House of Commons Chamber.

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