British Chancellor names Budget date

British Chancellor George Osborne today announced that he will deliver his first emergency Budget on June 22, exactly six weeks after the new coalition Government took office.

Mr Osborne said that he would also be setting out next week details of the £6bn of spending cuts to be made this year.

Speaking at the Treasury with new Liberal Democrat Treasury Chief Secretary David Laws alongside him, Mr Osborne warned that failure to tackle the UK’s record deficit would be “disastrous”.