Spring Statement 2019

Source: HM Treasury | | 06/02/2019

The Chancellor, Philip Hammond, has announced that he will deliver his Spring Statement to the House of Commons on Wednesday, 13 March 2019. The timing of the statement is interesting as the Spring Statement is due to take place just over 2 weeks before the 29 March Brexit withdrawal date.

This will be the second Spring Statement to take place following the government’s decision to switch to a new cycle with the annual Budget taking place in the autumn, and the annual Statement taking place in the spring.

The Spring Statement is used to give an update on the state of the economy and will respond to the economic and fiscal forecast published by the independent Office for Budget Responsibility. The Spring Statement will also be an opportunity for the government to publish consultations, including initiating early-stage calls for evidence and consultations on long-term tax policy issues.

The Chancellor has previously said he will not make significant tax or spending announcements at the Spring Statement unless the economic circumstances require it. However, given the current uncertainties regarding Brexit, there could be scope for further material announcements to be made at the Spring Statement or more likely after the 29 March 2019, especially if we have a ‘no deal’ Brexit.



Contact Us

8-10 Queen Street
Seaton
Devon
EX12 2NY
Tel: 01297 624188

Also in Exeter

13 West Street
Exeter
Devon
EX1 1BB
Tel: 01392 823999

 

Cookie Policy

Latest News

New Stamp Duty surcharge announced
20/02/2019 - More...
A new consultation has been launched by HM Treasury together with HMRC seeking views on the design of a new 1% Stamp

Edinburgh makes a case for UK’s first tourist tax
20/02/2019 - More...
The City of Edinburgh Council is seeking permission to introduce a tourist tax. After an extensive consultation, the

Did you get your Brexit update letter from HMRC?
20/02/2019 - More...
HMRC has now written to over 145,000 VAT-registered businesses across the UK with a Brexit update. The letters explain

News Search


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login