Dods Monitoring Spring Budget 2017 speculation

Posted On: 
27th February 2017

Dods Monitoring has pulled together the range of announcements we may expect from the Chancellor’s red box.

The Spring budget will take place just days before Article 50 is triggered.
Credit: 
PA Images

Philip Hammond's first and last Spring Budget will take place on 8 March. 

In November of last year the Chancellor announced he was scrapping the Autumn Statement in favour of an Autumn Budget and a Spring Statement.

Not only will this year be significant for hosting the final ever March Budget, it will also be notable because 2017 will contain two Budgets in order to align the timetable.

The new Spring Statement is expected to be a fiscal update, rather than a mini-Budget as the Autumn Statement had become. 

As Mr Hammond announced last year: "No other major economy makes hundreds of tax changes twice a year, and neither should we.”

As well as a change in format, this year's first fiscal set piece will be of special importance because it will take place just days before Article 50 is triggered.

It will be another chance for the Chancellor to prove that he and Theresa May have a strategy that can allay companies’ concerns about Brexit and convince them they do not need to leave the UK.

John McDonnell will respond for the Opposition, and if his performances at the last two fiscal events are anything to go by, the Shadow Chancellor at least seems to have learnt not to bring communist literature into the Chamber. 

Dods Monitoring has pulled together a number of possible announcements we could expect from next week’s Budget.

The document includes speculation about business rates, which could undergo real reform, and social care, that could receive a large injection of cash.

Read the full document to find out what may happen to the deficit, NHS, justice and more.