Reward Strategy. Incoporating Payroll World.

Spring Statement scheduled for 13 March 2018

On 6 December 2017, the Chancellor of the Exchequer, Philip Hammond, announced that the Spring Statement will be on Tuesday 13 March 2018. This will consider “longer-term fiscal challenges” and commence consultations on how these can be addressed.

TwitterLinkedInFacebook

Following the chancellor’s announcement at Autumn Statement 2016 on 23 November 2016, there will, from autumn 2017, be one major fiscal event in each year. As part of this transition, there were two Budgets in 2017, one in spring on 8 March and another in autumn on 22 November.

 

However, the Office for Budget Responsibility (OBR) is required by law to produce two forecasts a year to which the UK government is required to respond. One of these will remain at Budget time (autumn). The other will fall in the spring and the government will respond to it with the Spring Statement.

 

However, just because the Budget has moved from the spring to the autumn does not mean that the Spring Statement loses importance. This is because the UK government may still make changes to fiscal policy if the economic circumstances require it.

TwitterLinkedInFacebook
Add New Comment
You must be logged in to comment. Login or Register to access enhanced features of the website.

You might also like

Top finance executives form a new advisory group to MaPS

Top finance executives form a new advisory group to MaPS


Almost a third of employers reopen workplaces

Almost a third of employers reopen workplaces


Statutory Sick Pay rebate scheme launched

Statutory Sick Pay rebate scheme launched


How to maintain global payroll in a crisis

How to maintain global payroll in a crisis

LATEST PAYROLL AND REWARDS NEWS IN YOUR INBOX

Reward Strategy homepage
Reward Strategy RSS

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

reward-strategy.com - an online news and information service for the UK’s payroll, reward, pensions, benefits and HR sectors. reward-strategy.com is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Reward Strategy is committed to diversity in the workplace.
© Copyright Shard Financial Media Ltd