Darling fixes date for 2008 Budget

Chancellor Alistair Darling will deliver his first Budget statement to the House of Commons on 12 March 2008, the Treasury has announced.

With Britain feeling the strain of a global credit crunch, volatile stock markets and falling house prices, many will be watching this year’s Budget with bated breath.

The Chancellor has already warned that the gloomy economic outlook is likely to give policymakers a ‘challenging year,’ whilst continuing uncertainty over troubled lender Northern Rock will only add to the mounting pressures for Darling.

Meanwhile, experts are suggesting that the Chancellor will need to consider the possibility of a General Election, which is widely expected to be held in Spring 2009, when drafting this year’s Budget.

Darling’s Budget, which is scheduled to commence at 12.30pm, will be his first since taking over from his predecessor Gordon Brown.

For all the latest Budget news and information, make sure you visit our website regularly – we will be publishing a comprehensive summary of the announcements.