The June 2010 United Kingdom Budget was delivered by George Osborne, Chancellor of the Exchequer, to the House of Commons in his budget speech that commenced at about 12.30 p.m on Tuesday 22 June 2010 (just 90 days after the previous budget speech).[1] It was the first budget of the Conservative-Liberal Democrat coalition formed after the general election of May 2010. The government dubbed it an "emergency budget", and stated that its purpose was to reduce the national debt accumulated under the Labour government. In his budget speech Osborne quoted data and forecasts made by the independent Office for Budget Responsibility that was formed by the coalition soon after they took up office.[2] The preceding budget of the Labour Party in March was only partly enacted due to the calling of the election.