Spring Statement 2018 - What to Expect

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June 24th 2018
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Spring Statement 2018 - What to Expect

Tomorrow, Philip Hammond will deliver the first Spring Statement since the UK Budget schedule changed. We take a look at what to expect.

The Spring Statement is primarily a legally required response to the OBR (Office of Budget Responsibility) forecasts. The Chancellor may deliver other announcements as he has the stage for it, but many commentators have revealed that pre-Statement reports disclose no headline spending or tax changes.

The OBR report will show forecasts for growth and borrowing and be an indicator to how much Brexit is already having an affect on the economy, and how future post-Brexit payments are to be accounted for.

The Statement will be delivered at around 12:30pm tomorrow, Tuesday 13th March 2018. While the full Budget lasted around one hour and was only around three months ago, the Spring Statement will be much shorter - possibly around twenty minutes with the usual discussion that will then follow providing the bulk of the analysis.

We'll follow along with the Statement and update any changes on our tools and calculators on the day. Follow us on our twitter @uktaxcalculator for updates during the day.

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