In today's world, 2014 United Kingdom budget has become a topic of interest and debate in different areas. Whether in politics, science, culture or society in general, 2014 United Kingdom budget has acquired significant relevance that cannot be ignored. Its impact and magnitude have generated conflicting opinions and diverse positions, which demonstrates the importance and complexity of this issue. In this article, we will explore different aspects related to 2014 United Kingdom budget, from its origins to its current implications, with the aim of providing a panoramic view that allows us to understand the breadth and depth of this phenomenon.
Presented | Wednesday 19 March 2014 |
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Parliament | 55th |
Party | Coalition government |
Chancellor | George Osborne |
Total revenue | £648 billion ($1.1 trillion) (39% of 2014 GDP) |
Total expenditures | £732 billion ($1.2 trillion) (42% of 2014 GDP) |
Deficit | £84 billion (5% of 2014 GDP) |
Website | Budget 2014 documents |
‹ 2013 2015› |
The 2014 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 19 March 2014.
It was the fifth budget of the Conservative–Liberal Democrat coalition government formed after the 2010 general election, and also the fifth to be delivered by Osborne.
Receipts | 2014-15 Revenues (£bn) |
---|---|
Income Tax | 167 |
National Insurance | 110 |
Value Added Tax (VAT) | 111 |
Corporate Tax | 41 |
Excise duties | 47 |
Council Tax | 27 |
Business rates | 27 |
Other | 118 |
Total Government revenue | 648 |
Department | 2014-15 Expenditure (£bn) |
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Social protection | 222 |
Health | 140 |
Education | 98 |
Debt interest | 53 |
Defence | 38 |
Public order and safety | 32 |
Personal social services | 31 |
Housing and Environment | 25 |
Transport | 23 |
Industry, agriculture and employment | 17 |
Other | 53 |
Total Government spending | 732 |