Once again, Chancellor Philip Hammond has demonstrated his commitment to the principle of the Spring Statement as a low-key event, at least in terms of tax and public spending announcements.
In political terms, however, the real substance of the speech was – like seemingly everything else in 2019 – focused on Brexit. The Chancellor stopped short of firming up plans for a ‘full fiscal event’ (that is, an emergency Budget) in the summer in the event of no-deal, and instead confirmed the launch of a full three-year spending review, to feed into the scheduled Autumn Budget.
In its own way, the speech was quietly pointed: wouldn’t it be nice to continue on this straight and straightforward path, with few surprises or shocks? Wouldn’t it be good to keep investing in, rather than shoring up, the economy?
After all, something like business as usual is usually good for business.
Read our Spring Statement 2019 report here. Contents include the following:
- Business updates
- Tackling tech giants
- Publications for 2019
- Consultations: 12 months on
- Preparing for a no-deal Brexit
- Upcoming tax changes
As always, get in touch with us to discuss any of these issues.