LATE BUDGET ON APRIL 22

Prime Minister Gordon Brown has opted for a Budget on April 22 - making it the latest Budget in a non-election year since 1945.

It will take place after the Parliamentary Easter recess and three weeks after the crisis G-20 summit, giving the Prime Minister time to take account of any decisions taken there.

Chancellor Alistair Darling will also have to rethink his economic forecasts to account for the sharply bleaker picture. In November he said that GDP in 2009 would fall by about one per cent and then bounce back, but the economy has since nosedived.

It will be the latest Budget in a non-election year since 1945. Budgets are traditionally given in March.