Budget statement set for April 22nd

Date: 16th February 2009

Chancellor Alistair Darling will make his second budget address on April 22nd, it has been announced.

Mr Darling has chosen to delay the report until after the G20 summit as the country looks to sink deeper into recession.

As part of his statement, the chancellor may be tempted to introduce a raft of new business stimulus measures, which could include a raft of taxation cuts.

Mr Darling told MPs: "Following the meeting of G20 countries in April, this year's budget statement will be on April 22nd - that is when the House returns afters its Easter recess."

Following his comments, the Confederation of British Industry revealed that it expected the economy to contract by 3.3 per cent this year and unemployment to reach 2.9 million.

Elsewhere, an investigation by the Forum of Private Business last week found that 25 per cent of companies were struggling to draw in new business amid the economic crisis.