2. The Budget and Parliament Law of the United Kingdom

The Budget and Parliament

Each year the Chancellor of the Exchequer makes the Budget statement to the House of Commons outlining the state of the economy and the Government's proposals for changes to taxation. The House of Commons debates the Budget and scrutinises the subsequent Finance Bill, which enacts the Chancellor's proposals.

⁴https://www.parliament.uk/site-information/glossary/?l=B

What is the Budget?

The Budget, or Financial Statement, is a statement made to the House of Commons by the Chancellor of the Exchequer on the nation’s finances and the Government’s proposals for changes to taxation. The Budget also includes forecasts for the economy by the Office for Budget Responsibility (OBR).

When is the Budget?

The last Budget took place in Spring 2023, on 15 March 2023.

• 
  HM Treasury: Spring Budget 2023
  

The Budget and the Finance Bill are usually annual events, in part because income tax and corporation tax are annual taxes which have to be renewed by legislation each year. By contrast, most UK taxes including all indirect taxes, petroleum revenue tax and taxes on capital are ‘permanent’.
In election years, after a change of Government, a Budget will also usually be introduced by the incoming Chancellor of the Exchequer, even if the outgoing Chancellor has already delivered one.
Over the last three years the annual timetable has been affected by the timing of the 2019 General Election, the Covid-19 pandemic and subsequent ministerial changes. More about the timing of previous budgets is given in the following House of Commons Library briefings:

• 
  Briefing: The Budget and the annual Finance Bill
  
• 
  List of House of Commons Budget debates and Finance Bills