2019 Spring Statement - what to expect
Article posted: 13th March 2019
Chancellor Philip Hammond will deliver the 2019 Spring Statement today. We will be keeping you up-to-date on the latest developments.
The Chancellor will respond to the latest economic and public finance forecasts from the Office for Budget Responsibility (OBR) and announce some areas for consultation on the longer-term tax challenges.
Ahead of the Spring Statement, business groups have outlined the actions that they would like Mr Hammond to take. The Trades Union Congress (TUC) has called for the Chancellor to increase funding for public services by an additional £15 billion and increase capital spending by £10 billion.
Frances O’Grady, General Secretary of the TUC, said: “Positive action is needed from the government to direct funds to the public services people depend on and rescue them from breaking point. And every part of Britain must get investment in the modern infrastructure needed for growth.”
Meanwhile, the Federation of Small Businesses (FSB) has urged the Chancellor to tackle the UK’s ‘late payment crisis’; commit to a one-year ‘safe harbour’ approach to Making Tax Digital (MTD) fines; and introduce additional measures to make the business rates system fairer.
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