1988 United Kingdom budget

1988 (1988) United Kingdom budget

Presented	15 March 1988
Parliament	50th
Party	Conservative Party
Chancellor	Nigel Lawson
‹ 1987 1989›

The 1988 United Kingdom budget (sometimes referred to as the Giveaway budget)^[1] was delivered by Nigel Lawson, the Chancellor of the Exchequer, to the House of Commons on 15 March 1988. It was the fifth budget to be delivered by Lawson during his tenure as Chancellor, and marked major changes to taxation, with reductions in income tax and changes to inheritance tax rules, as well as changes to mortgage interest relief that prevented homebuyers from being able to pool mortgage allowances. The changes announced to mortgage relief ultimately helped to further fuel an ongoing property boom which led to a rise in inflation and an increase in interest rates. Due to frequent disruptions during the Chancellor's speech, Deputy Speaker Harold Walker was required to suspend proceedings in what was described as an outbreak of "grave disorder".