_(St_Edwards_Crown).svg) | |
| Presented | 17 March 1987 |
|---|---|
| Parliament | 49th |
| Party | Conservative Party |
| Chancellor | Nigel Lawson |
|
‹ 1986 1988› | |
The 1987 United Kingdom budget was delivered by Nigel Lawson, the Chancellor of the Exchequer, to the House of Commons on 17 March 1987. It was the fourth budget to be presented by Lawson, and saw him announce tax cuts worth £2.6bn. He also forecast a £3bn reduction in government borrowing. Among his announcements were a reduction in the basic rate of income tax from 29% to 27%, and a reduction in Corporation Tax from 29% to 27%. The budget took place three months before the 1987 general election, which the Conservatives won. Neil Kinnock, leader of the Opposition Labour Party described it as a "bribes budget".