Spring Statement due tomorrow

The government will publish its ‘Spring Statement’ on Tuesday March 13th 2018. Changes introduced by Chancellor Philip Hammond mean there is only one major fiscal event a year — the Budget in the autumn. Under this new fiscal calendar, the Spring Statement won’t be a mini-Budget and it won’t be used as a platform to deliver any big policy announcements, but it will be an update on the economy and public finances. Scheduling the Budget from spring to autumn means tax changes will be announced well in advance of the start of the tax year, allowing sufficient time for consultation and awareness-raising. However, little is expected about higher education with the Review of Post-18 Education and Funding now underway.

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