Chancellor George Osborne is set to deliver his second Budget of the year on 8 July following the recent Conservative election victory.
Writing in The Sun earlier this month, Osborne pledged that the package of measures announced in the Budget would represent a “Budget for working people”.
The Treasury is yet to spell out how it will cut £10bn from the UK’s welfare bill out of the total £12bn that has been earmarked for cost savings.
Osborne said: “On 8 July, I am going to take the unusual step of having a second Budget of the year – because I don’t want to wait to turn the promises we made in the election into a reality… And I can tell you it will be a Budget for working people.”
In his last Budget, Osborne pledged to launch a Help to Buy Isa in order to help first-time buyers save for a deposit.