Emergency Budget set for 22 June

The coalition Government will hold its first Budget on 22 June.

The Tories pledged to hold a Budget within 50 days of coming to power before the election. Chancellor George Osborne confirmed the date at a briefing with his Lib Dem deputy David Laws, the Treasury Chief Secretary. As part of their coalition deal, the two parties agreed to make £6bn in spending cuts in the current year. The last Budget was on 24 March.