Mr Osborne announced the date in Parliament earlier this afternoon (December 11th) only six days after he delivered his Autumn Statement to the country.
Last week, he revealed that a planned 3p January rise in Fuel Duty would be scrapped among other measures that would help small businesses grow in the coming months.
And he likely to unveil further measures in the March Budget as he updates the UK on the economic situation along with what he and the government are doing to improve things.
In last March's Budget, the Chancellor announced that the top 50p tax rate would be cut to 45p from April 2013, saying he could not justify a tax "that damages our economy and raises next to nothing".
Posted by Thomas Fletcher