Spring Statement

In another week dominated by Brexit, the 13th March saw Chancellor Philip Hammond’s Spring Statement arrive without the usual fanfare, though it made repeated mentions of the dangers of a no-deal outcome. The Chancellor warned that a no-deal Brexit would make the economy smaller and weaker, with higher prices for consumers and a “short to medium-term reduction in productive capacity”.

Beyond Brexit, the Chancellor set out in advance that there would be no key policy or tax changes in the speech, which was made up largely of notes about consultations, early-stage discussion papers and calls for evidence on topics ranging from the National Living Wage to a low-carbon Future Homes Strategy.


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