Tory Chancellor Philip Hammond is gearing up for his address to MPs on the nation's financial health on Tuesday 13th March at 12.30pm. This year things will look very different to previous years. Instead of a full Budget, we are getting a slimmed-down 'Spring Statement'.
In 2016 the Tory Chancellor announced he was moving the Budget from Spring to Autumn. So instead of the Autumn Statement there's now a Budget, and instead of the Budget there's now a Spring Statement.
Mr Hammond told MPs in 2016: "No other major economy makes hundreds of tax changes twice a year, and neither should we. If unexpected changes in the economy require it, then I will, of course, announce actions at the Spring Statement. But I won’t make significant changes twice a year just for the sake of it."
He added the timing would align better with international best practice and give Parliament more time to scrutinise each Budget. He will respond to predictions from the independent Office for Budget Responsibility, they will show things like the projected GDP growth and borrowing for the UK government in future years.
There will be no red box, no official document, no spending increases, no tax changes.
Simon Gibson, Director, Simon Gibson Transport Ltd, Goole, East Yorkshire:-Director, Simon Gibson Transport Ltd
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We continue to be proud of the benefits that the Ron Dearing UTC is giving students from our city. Check out today’s Hull Daily Mail article on how the College has employed six students to earn as they learn with paid jobs at the college. The six students, aged between 16 and 17, work in a variety of roles, including library assistants and IT assistants. The new...
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Dudley, along with Eddie Gilbert and Colin Atkin, took over the practice from his father in 1968 and for the next forty years played a prominent role in advising businesses in Hull and the East Riding. With sons Jonathan and Chris now partners in the firm, he was immensely proud when granddaughter Katie recently joined the practice. Outside the office, he was well know...