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March 2017 United Kingdom budget

2017 (2017) United Kingdom budget
PresentedWednesday 8 March 2017
Parliament56th
PartyConservative Party
ChancellorPhilip Hammond
Total revenue£744 billion
Total expenditures£802 billion
Deficit£58 billion (2.9% of GDP)
Website[1]
‹ 2016

The March 2017 United Kingdom budget was delivered by Philip Hammond, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 8 March 2017. The last budget to be held in the spring until 2020, it was Hammond's first as Chancellor of the Exchequer since being appointed to the role in July 2016.[1]

2017–18 taxes and spending

Taxes

Main article: Taxation in the United Kingdom
Receipts 2017-2018 revenues (£ billions).[2]
Income Tax 175
Value Added Tax (VAT) 143
National Insurance 130
Corporate Tax 52
Excise duties 48
Council Tax 32
Business rates 30
Other 134
Total Government revenue 744

Spending

Main article: Government spending in the United Kingdom
Department 2017-2018 Expenditure (£ billions).[3]
Social protection 245
Health 149
Education 102
Defence 48
Debt interest 46
Housing and Environment 36
Transport 37
Public order and safety 34
Personal social services 32
Industry, agriculture and employment 23
Other 50
Total Government spending 802

References

  1. ^ "Budget 2017: Philip Hammond faces row over tax rises for self-employed - as it happened". The Guardian. 8 March 2017. Retrieved 29 June 2017.
  2. ^ HM Treasury, "Government spending and revenue: Chart 2: Public sector receipts 2016-17", in HM Treasury (ed.), Spring Budget 2017 (PDF), London: HMSO, p. 8, ISBN 9781474140973.
  3. ^ HM Treasury, "Government spending and revenue: Chart 2: Public sector spending 2017-18", in HM Treasury (ed.), Spring Budget 2017 (PDF), London: HMSO, p. 8, ISBN 9781474140973.


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