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 Spring Statement 2018

Branston Adams
Wesminster

On Tuesday March 13th, the Chancellor delivered his Spring Statement. 

It is the first time that this spring event has not featured a “full-blown budget”.

In a much more low key event there was no red box and no spending or tax changes announced.

He provided an update on the economic and fiscal position of the UK, progress on policies announced at the Autumn Budget and launched a series of consultations.

To see how the Spring Statement affects you click here

 

 

The Predictions:

We spoke to Paul Adams from Branston Adams accountants in Farnham regarding his predictions. He said: "The Chancellor will outline the latest economic and public finance forecasts from the “Office for Budget Responsibility”, announce some areas for consultation and I suspect very little else."

He'll be looking out for three things..

1 – The Tone of the Statement -  the UK economy is growing slowly so not good news, however public finances “tax and spending” are reported to be better than expected. The net effect is that the Budget deficit is ten billion below that forecasted.

2 - What is he going to say about Brexit, the Chancellor is known to be on the “softer Brexit side” will he indicate differences from Theresa May's view or will he tow the party line.

3 – I am expending some commentary on longer term issues, possible tax reform(s), the longer term direction of public spending, indicating possible future measures.

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