U.K., Oct. 23 -- UK Parliament issued the following news:
On Wednesday 28 October, the Chancellor of the Exchequer will deliver the 2026 Budget Statement in the House of Commons.
The statement will take place at approximately 12.30pm, straight after Prime Minister’s Questions.
The Budget statement updates Parliament and the nation on the state of the economy, public finances and progress against the Government’s economic objectives.
The Budget will be broadcast live on ParliamentLive.tv , with the opening statements also available with a British Sign Language interpretation.
Timings on the day
The Chancellor of the Exchequer will deliver the Budget Statement following Prime Minister’s Questions at approximately 12.30pm.
During the Budget, the Speaker’s place in the Chair is taken by the Chairman of Ways and Means (the most senior Deputy Speaker), Nusrat Ghani MP .
Some measures, such as any changes to the rates of taxation on alcohol or tobacco, often come into effect on Budget day or soon after. For this to happen, the House of Commons agrees a 'Provisional Collection of Taxes' motion as soon as the Chancellor sits down. By convention, this is agreed without a vote, meaning that the changes can come into effect at 6pm on the day of the Budget.
When the Chancellor’s statement ends, HM Treasury release the budget documents which provide the technical details of the economic forecasts and proposed tax changes.
The Leader of the Opposition will then respond, followed by the Leader of the second largest opposition party (the Liberal Democrats).
The Budget debate
The Budget Statement will be followed by three subsequent days of debate on the ‘Budget Resolutions’ which authorise changes to tax and related measures announced in the Budget.
Each day of debate covers a different policy area such as health, education and defence. The Shadow Chancellor will respond at the start of the second day of the Budget debate - Thursday 29 October.
Resolutions are required for each new tax, renewed annual tax or to increase or widen the burden of an existing tax.
The House of Commons must pass a Finance Bill, which gives permanent legislative effect to the Budget Resolutions, including any that came into effect immediately after the Budget.
The Finance Bill
A new Finance Bill must be presented to Parliament each year. It enacts the proposals made by the Chancellor in the Budget statement and brings them into law.
Once the House of Commons has agreed the Budget Resolutions, the Finance Bill starts its passage through Parliament in a similar way to other bills, although it is generally given more time and usually has a ‘split committal’, meaning some parts are considered in a Public Bill Committee and the rest in Committee of the whole House .
The House of Lords has a limited role in respect of Finance Bills. The House of Commons has the sole right to initiate and amend bills whose main purpose is to levy taxes or authorise expenditure.
The House of Lords will have a second reading debate on the Finance Bill but they will not consider the Bill clause by clause and will not amend the Bill.
Select committee scrutiny
Following the statement, the Treasury Committee will conduct an inquiry into the Government’s proposals and the economic and fiscal outlook.
Library briefings and further background
The House of Commons Library have prepared briefings ahead of the Budget, including:
What is the Budget?
Autumn Budget 2026: Background briefing
Disclaimer: Curated by HT Syndication.
