Spring Statement 2018

The 25 minutes of Mr Hammond’s first Spring Statement came as a welcome relief after 2017 – a year that contained two Budgets and three Finance Bills. The Spring Statement was relatively brief, whereas previous Chancellors have used their Autumn Statements as mini-Budgets. Instead, it was what the Autumn Statement was originally meant to be: a between-Budgets review of the public finances. No doubt the Chancellor was helped by revised projections from the Office for Budget Responsibility (OBR), which were marginally better than last November’s numbers.

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