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.
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Grain merchants and farmers, Burstwick, East Yorkshire:Jeremy Saunt, Director at Johnson and Saunt
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To help all our clients, existing and new, we have produced a new brochure outlining how we can provide you with a Will writing service and write your Lasting Power of Attorney. Traditionally people have had to go to a law firm to prepare these vital documents. We at Dutton Moore can provide the services and taking this route with us will prove to be more cost effective....
Good luck for the year ahead to all students starting or returning to their studies at the acclaimed Ron Dearing University Technical College (UTC) tomorrow morning. Our Managing Partner Tony Bullock is a Member of the organisation alongside Charlie Spencer and Alan Speight, together they oversee the Trust Board. Tony is delighted to continue to support the city-c...
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