March 1993 United Kingdom budget: Difference between revisions

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The '''March 1993 United Kingdom budget''' (officially titled '''''A budget for sustained recovery and a budget for jobs''''')<ref name=Guardian>{{Cite web|url=http://www.theguardian.com/uk/1999/mar/03/budget1999.budget6|title=Bygone budgets: March 1993|date=3 March 1999|website=The Guardian|accessdate=15 December 2022}}</ref> was delivered by [[Norman Lamont]], the [[Chancellor of the Exchequer]], to the [[House of Commons of the United Kingdom|House of Commons]] on 16 March 1993.<ref>{{cite web|url=https://genome.ch.bbc.co.uk/d1c83dd90819459c8f4a2092955fa66d |title=Budget 93 – BBC Two – 16 March 1993 |work=BBC Genome |publisher=BBC |access-date=15 December 2022}}</ref> It was the third and final budget to be presented by Lamont during his tenure as chancellor, and the final spring budget to be outlined before the [[Conservative Party (UK)|Conservatives]] unified their tax and spending plans into one budget statement.
 
Lamont introduced a series of phased tax increases, including announcing a [[Value-added tax in the United Kingdom|VAT]] levy of 8% on domestic fuel from 1 April 1994, which would be raised to 17.5% the next year, as well as making changes to [[income tax in the United Kingdom|income tax]] and raising the [[stamp duty in the United Kingdom|stamp duty]] threshold. March 1993 also marks the first occasion on which a chancellor cited the environment as a reason for raising taxes, but this failed to convince [[Green politics|green]] campaigners the tax raises were justified. [[John Smith (Labour Party leader)|John Smith]], the leader of the [[HerHis Majesty's Most Loyal Opposition (United Kingdom)|Opposition]] [[Labour Party (UK)|Labour Party]], dismissed the budget as "a shameful budget from a cynical government that has broken its election promises". Prime Minister [[John Major]] described it as "the right budget, at the right time, from the right chancellor" before replacing Lamont a few weeks later with [[Kenneth Clarke]].
 
==Overview==