The ‘New’ Spring Statement 2018
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Tuesday 13 March 2018
Settling in to the new cycle of Spring Statements and Autumn Budgets, Philip Hammond delivered his very quick spring statement (in fact on of the shortest updates ever!). Before the announcement there was a promise of no tax changes. The flip side to tax is of course spending, so did anything change there to give any help or concern to business? In short…No! The statement was more of an update on the state of the economy and policy measures, with a slight reduction in borrowing compared to the November figures. However, overall there was very little to change from a business point of view. This does mean no immediate half year changes that we have seen in the past and therefore, stability. If this is the model that is going to be adopted, on behalf of business owners and entrepreneurs, we welcome that approach. So, to use a phrase, keep calm and carry on…. Thank you for reading our summary, if you have any questions please get in touch. Chris Downing |