April 1979 United Kingdom budget

The April 1979 United Kingdom budget was delivered by Denis Healey, the Chancellor of the Exchequer, to the House of Commons on 3 April 1979.^[1][2] It was the first of two budgets to be presented to Parliament in 1979, and the last to be presented by Healey and the Labour Government of James Callaghan.^[3] It was also the last Labour budget to be presented until 1997.^[4]

1979 (1979) United Kingdom budget

Presented	3 April 1979
Parliament	47th
Party	Labour Party
Chancellor	Denis Healey
‹ 1978 June 1979›

Described as a caretaker budget, it was introduced after Callaghan's government had lost a vote of no confidence the previous month, and was designed to facilitate the continued raising of taxes until an election could be held to choose a new government, which would then outline a new budget. Among the measures announced were an increase in all income tax personal allowances by 8.9%, which was in line with inflation at the time, the abolition of child tax allowance, and a rise in child benefit to £4.00 per week.^[4] In his response to the budget, Shadow Chancellor Geoffrey Howe said Healey "will have left a dreadful inheritance for the next chancellor".^[4]

The budget was supported by the Conservative Party led by Margaret Thatcher, which went on to win the 1979 general election a few weeks later. Howe, who had served as Shadow Chancellor since 1975, and became Chancellor in the first government of Margaret Thatcher, then delivered a new budget to Parliament on 12 June.^[3]

References

1. "FINANCE BILL (Hansard, 3 April 1979)". Api.parliament.uk. Retrieved 19 November 2022.
2. "Nationwide Budget Special – BBC One – 3 April 1979". BBC Genome. BBC. Retrieved 20 November 2022.
3. "Budgets 1979–1992". BBC. Retrieved 19 November 2022.
4. "Bygone budgets: April 1979". The Guardian. 3 March 1999. Retrieved 19 November 2022.