New Budget timetable and Spring Statement date confirmed

HM Treasury has confirmed that the Spring Statement will take place on Tuesday 13 March 2018.

At Autumn Statement 2016, the Chancellor announced that in future there will be a single fiscal event each year – the annual Budget statement, which will be delivered in the autumn. Autumn Budget 2017 was the first Budget in this new cycle. From Spring 2018, an annual Spring Statement will accompany an updated economic and fiscal forecast from the Office for Budget Responsibility. The Chancellor has said that he will not make significant tax or spending announcements at the Spring Statement, unless the economic circumstances require it.

HM Treasury has also published a policy document setting out a summary of the timetable and process the Government will use for tax policy making and consultation following the move to a single annual fiscal event.