Inaugural Autumn Budget date announced
The Chancellor, Philip Hammond, has announced that the first Autumn Budget to take place since the set-piece statement’s move to the end of the year will be on Wednesday 22 November 2017.
Mr Hammond announced at the Autumn Statement in 2016 that there would no longer be two major fiscal statements each year. This means that the Autumn Statement has been replaced by the Autumn Budget, and there will no longer be a Spring Budget.
While there will be a Spring Statement from 2018, this will only involve a response to the Office for Budget Responsibility’s (OBR) forecasts for the economy, and will not be a major fiscal event.