Spring Budget set to take place on 8 March 2017

5 January 2017

The Chancellor of the Exchequer, Philip Hammond, has announced that the Spring Budget will be published on 8 March 2017.

As Mr Hammond confirmed in the Autumn Statement on 23 November 2016, this will be the last Budget to take place in the Spring as the government transitions to its new timetable of an Autumn Budget and a Spring Statement.

Under the revised timetable, the Chancellor intends to make major announcements in the Autumn Budget, with the Spring Statement simply a response to the updated Office for Budget Responsibility’s (OBR) forecast for the economy and public finances.

With an Autumn Budget taking place later in 2017, it would be surprising to see many changes announced in the Spring Budget. It’s more likely that there will be a host of consultations over the coming months, as the Chancellor prepares for the Autumn Budget.  Having said that, we’ve seen previous Chancellors pull rabbits out of hats when we least expect it, so we will have to wait and see.

As usual, our specialist tax partners from around the UK will be watching the announcement and will be providing live commentary on the issues outlined. To make sure you can pick up our commentary on the day, follow us on Twitter for up to the minute commentary and LinkedIn for a more detailed summary of key proposals following the announcement.

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