Learn more about the PBR

The Pre-Budget Report (PBR) is one of two wide-ranging economic reports presented to Parliament by the Chancellor each year.

In spring the Chancellor presents his annual Budget  statement, which includes a detailed assessment of the state of the economy and the nation’s finances. In his statement, the Chancellor may announce changes to taxes and new spending measures. 

Full details of the 2009 announcement can be found in the Pre-Budget Report documents, located on the main HM Treasury website.

Since 1997, the Chancellor has also presented a Pre-Budget Statement along with a Pre-Budget Report in the autumn. 

Now an integral part of the annual Budget process, the PBR provides a progress report on what the Government has achieved since the previous Budget, gives an updated assessment of the state of the economy and public finances, and sets out the direction of Government policy in the run up to the spring Budget.

The PBR launches a national debate on important economic issues, taxes and spending in advance of the spring Budget, seeking the views of people and business in all regions of the country and in all sectors of the economy to inform the Government's decisions. The PBR may also launch public consultations on new policy proposals, or detailed analysis of a particular part of the economy or Government policy.

This year’s PBR follows the first contraction in the global economy for 60 years. The Government has responded with a range of action to support households, businesses and the broader economy through the recession.  The PBR will set out the Government’s strategy to support businesses and families until the recovery is secured; the role the Government will play in the recovery itself; and plans to halve the level of public borrowing over the next four years while continuing to invest in the services people rely on.

 

Timeline

  • Jul
    • More21st Finance Bill
  • Nov
    • More11th Treasury prepares for Pre-Budget Report
  • Nov
    • More Expand 9th Pre-Budget Report
    • More Pre-Budget Report consultation
  • Jul

Finance Bill

Following the Budget the Government introduces the Finance Bill, which legislates for the Budget policies. When a Bill has completed all its Parliamentary stages, it receives Royal Assent from the Queen.

Treasury prepares for Pre-Budget Report

Treasury Ministers and officials work towards PBR day, developing announcements and key themes.

Pre-Budget Report date announced

The Chancellor announces the date of this year’s PBR to Parliament. This year, the Chancellor announced on 11 November that the PBR would take place on 9 December.

Pre-Budget Report

Each year the Chancellor delivers two economic reports to Parliament. The first is the Pre-Budget Report – or PBR – which takes place in the Autumn.

Pre-Budget Report consultation

A period of consultation begins over some of the key measures or proposals put forward at PBR which informs decisions made at the following Budget.

Budget

The second of the Chancellor’s two annual economic reports is the Budget - it is the main report and takes places in the Spring.

Cabinet Discussion

The Chancellor presents the details of the PBR to the Cabinet in 10 Downing Street.

Budget Photocall

Before he heads to Parliament to make his PBR statement, the Chancellor and his ministerial team traditionally appear in front of the Treasury for a photocall with the media.

Budget Statement

The Chancellor delivers his Statement to Parliament at 1230pm on 9 December.

Content Goes Live on Website

The moment the Chancellor finishes his statement we publish all the relevant content related to the PBR both in hard copy and online.

Response From Oposition Leader

As soon as the Chancellor has finished his PBR statement, the Leader of the Opposition has a chance to have his or her say on the content of the PBR.

Budget Broadcast

The Chancellor explains more about the measures and announcements in the PBR during a television broadcast. Opposition parties respond to this in their own broadcasts.