Posted by Gary Mackley-Smith on March 13, 2018
Spring Statement 2018 announcements made on 13 March.
The Chancellor’s statement didn’t spring any surprises. With the main Budget now pushed back to the autumn, the speech was a masterpiece of understatement, lacking the seasonal colours of emerging blossom. The lack of excitement was palpable.
Instead of the buds of March putting a spring in the Chancellor’s step with new announcements, we were instead left with the continuing blast of winter as debt reduction remains the mantra and a public spending review was kicked into the long grass of next year. Another winter of discontent to face before we see Mr. Hammond’s light at the end of the tunnel.
The trouble is, the Chancellor’s tunnel vision ignores the economic uncertainties of Brexit – just a year away.
Alongside the Spring Statement, the Chancellor also issued a written statement on the many consultations being issued.
Whilst we have some information today on these Spring Statement announcements, the detailed provisions will not be available until the Autumn Budget.
Finance (No 2) Bill 2017, from last year’s Autumn Budget, received Royal Assent on 15 March 2018 and became Finance Act 2018.
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