9th April 2018
The Chancellor delivered his first Spring Statement on 13 March 2018, an economic update, free of new tax and spending measures. MSI's UK London-based accounting member haysmacintyre provides an overview.
Economic and Fiscal Forecasts
Claiming to see “a light at the end of the tunnel”, the Chancellor announced the Office for Budget Responsibility’s (OBR) GDP growth forecast of between 1.3% and 1.5% for each year to 2022, together with a forecast fall in inflation. Debt as a share of GDP is forecast to start falling in 2019.
Autumn 2017 Progress Update
The Chancellor provided an update on progress since his November 2017 Budget, including:
Whilst not announcing any new tax measures today, the Chancellor did not disappoint tax professionals, who might otherwise be missing the Red Book. He has invited views on future changes to the tax system, including:
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