Philip Hammond's Spring Statement not likely to include new cash for North

Remigio Civitarese
Marzo 13, 2018

Forecast GDP growth for this year is also expected to rise to 1.8 per cent, from 1.4 per cent in November.

The Office for Budget Responsibility's forecasts for the deficit, debt, GDP and productivity will form the backbone of the statement.

The OBR said last month it expected borrowing in 2017/18 to undershoot its previous prediction by a "significant" margin.

At the weekend he said: "There is light at the end of the tunnel because what we are about to see is debt starting to fall after it has been growing for 17 continuous years". Shadow Chancellor John McDonnell said Mr Hammond "must use today to act and end austerity". Our country can not afford for him to continue to ignore the problems facing working households in our country.

Hammond will use today's Spring Statement to announce a call for evidence on such a tax.

Philip Hammond is expected to deliver a low-key financial update despite a plea from Conservative former Minister Gary Streeter to help councils with finances "cut to the bone".

His deputy Liz Truss said there would be "no red box, no rabbits out of the hat and no tax changes".

The Chancellor of the Exchequer Philip Hammond is set to launch a public consultation on how the tax system can be used to reduce single-use plastics, according to Sky News.

Mr Hammond will instead
announce consultations on issues such as cutting environmentally damaging plastic waste ahead of a full-scale Budget in late autumn.

"Philip Hammond must use the spring statement to provide long overdue economic clarity over the United Kingdom government's Brexit plans, and make clear that he will not cut vital public services to fund a Tory extreme Brexit".

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