So the last Spring Budget was delivered to Parliament yesterday. Before you get too excited, though, no, that wasn’t the last Budget ever. It will just occur in the autumn from now on…
Prior to the speech, it was difficult to make any clear predictions. The Chancellor had conceded, in his Autumn Statement, that filling the ‘black hole’ of the nation’s finances would be a major challenge and that forecasting over the next five years was going to be even more difficult than normal. The ongoing discussions about Brexit and Article 50 have only added to that uncertainty.
What were the main areas, then, addressed by Mr Hammond in his Budget Statement?
We have prepared this summary, outlining all the main announcements and their implications.