This afternoon, the Chancellor delivered his first Spring Statement, with the Budget now taking place in the autumn. As speculated, the Spring Statement was a stripped back affair, with Hammond speaking for under half an hour and the speech primarily focused on updated economic forecasts. The headline news was an upgrade to expected GDP growth this year from 1.4% to 1.5% and lower than expected borrowing, opening the door to possible spending increases at the 2018 Autumn Budget.

The Chancellor also unveiled a series of policy consultations, touching on issues ranging from corporate tax and the digital economy to single-use plastic waste.

Please click the button below to read out full analysis, which includes details of all the key announcements.

Spring Statement

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