Budget date confirmed for March 24th

Date: 10th March 2010

The Treasury has confirmed in a written statement that the Budget for 2010 will be unveiled by the chancellor of the exchequer on March 24th.

According to media reports, the decision to announce the Budget on that date makes it even more likely that the general election will be held six weeks later on May 6th.

Chancellor Alistair Darling is believed to be planning to discuss how the UK will reduce its growing public deficit by half in the next five years.

He is also thought to be preparing a speech on the economy, which is to be delivered later today (March 10th).

This year's Budget is especially crucial for Labour as it is the last one the party will unveil ahead of the general election this summer.

It is likely that the document will feature details of public spending cuts, which are thought to be central to bringing down the UK's public debt.