Chancellor to present Autumn Statement today
23 Nov 2016
Chancellor Philip Hammond is set to present his first Autumn Statement later today, which will outline his priorities for spending, taxation and the UK economy in the wake of considerable political and economic uncertainty generated by the Brexit vote.
The Statement outlines the government’s fiscal plans, and draws on the latest forecasts from the Office for Budget Responsibility (OBR).
Marking his first significant fiscal event as Chancellor, Mr Hammond is expected to use his inaugural Autumn Statement to set out plans to significantly increase spending on infrastructure in an effort to boost the UK economy following the vote to leave the EU.
Many expect the Statement to serve as a ‘mini-Budget’, with others anticipating that Mr Hammond will ‘reset’ fiscal policy.
The Chancellor has been urged to overhaul the way in which tax policy is made in the UK, and to establish clear guidelines and priorities for the UK’s tax system.
The Chancellor’s speech will take place at 12:30pm. We’ll be bringing you all of the key headlines from the Autumn Statement, so make sure to keep an eye on our website throughout the afternoon. We’ll also be publishing a full and detailed summary of the Chancellor’s announcements later tonight, ready for you to read tomorrow morning.