The unusual step, following on from the Budget on 18 March, is so the new Conservative government can ‘deliver on the commitments we have made to working people’, Osborne said.

‘It will continue with the balanced plan we have to deal with our debts, invest in our health service and reform welfare to make work pay. But there will also be a laser-like focus on making our economy more productive so we raise living standards across our country. We're going to put Britain into good shape for the long term,’ Osborne said.

Osborne has indicated that the second Budget will, as earlier this year, crack down on tax avoidance and aggressive tax planning. However, he has not provided any details of how the government will meet its pre-election pledge to cut £12bn in welfare spending, beyond saying he wants to make the welfare system ‘fair for the people who pay for it’.

In the final weeks of election campaigning, Conservative leader David Cameron said a future Conservative government would introduce legislation to ensure there would be no increase in the rate of income tax, VAT or national insurance contributions (NICs) over the term of the next parliament, but it is not clear whether this would be included in the Summer Budget.

The Finance Bill 2015 was rushed through in less than 10 days following the Budget and before the dissolution of parliament, which meant a number of measures were not included such as changes to the trivial benefits rule.