Osborne announces date for second Budget

Press Association
Osborne visit to Bolton
Osborne visit to Bolton

George Osborne will spell out how the government will balance the books and reform welfare when he delivers his first all-Tory Budget on July 8.

The Chancellor said the financial package would focus on "working people" and turning the Conservatives' election promises "into a reality".

Announcing the date in an article for The Sun rather than the more conventional method of a statement to Parliament - which is not yet sitting - Mr Osborne said: "On July 8 I am going to take the unusual step of having a second Budget of the year - because I don't want to wait to turn the promises we made in the election into a reality...

"And I can tell you it will be a Budget for working people."

Treasury aides indicated the Summer Budget would set out the Government's plan to deliver savings promised during the election campaign, and pay down Britain's debts in a "fair and balanced way".

Mr Osborne is expected to give more details of how ministers intend to shave £12 billion a year from the welfare bill while protecting the most vulnerable.

It is being branded as a "one nation" package to help spread the benefits of economic recovery across the country.