The Budget

New Chancellor Philip Hammond will present his first Autumn Statement in October, with a Budget following in March, having taken over from George Osborne.

The Budget is a statement made every year by the government on how it's going to spend money across the country. It is announced by the Chancellor of the Exchequer with help from his office, the Treasury.

Philip Hammond is the new Chancellor, after replacing George Osborne, who was sacked when Theresa May took over as Prime Minister.