Date for diary: Autumn Statement, Wed Nov 23
The date has been set. New Chancellor Philip Hammond will deliver his first Autumn Statement on Wednesday November 23.
He revealed the date when he appeared before a House of Lords committee earlier this week.
The Autumn Statement has become increasingly important over recent years, perhaps second only to the Budget as the most important economic announcement for UK plc.
Much like the Budget, it includes a whole range of taxation and spending plans – and occasionally a few surprises – which have an impact on the economy as well as the country as a whole.
It often includes growth figures and forecasts and acts as an important barometer of the nation’s economic health.
This year’s Autumn Statement will not only be significant because it is Mr Hammond’s first but also because of Brexit.
As the dust settles from the referendum results – some five months on – we should have a clearer picture of the how economy has fared and looks for 2017.
Hopefully, Mr Hammond will give a clear indication of some economic and fiscal policy for the way forward so businesses can plan ahead.
He has already said that he may use the Autumn Statement to ‘reset’ economic policy following the referendum decision.
Naturally, any announcements at the Autumn Statement or Budget often have implications for the housing market, construction and wider property sector. Think Stamp Duty of a couple of years ago!
As a leading South Coast firm of chartered surveyors and provider of professional property related services, we’ll be watching carefully to see how it impacts us, our clients, the property sector and the wider economy.
As a firm, we always keep informed of industry and economic developments to ensure we can deliver the best customer service and professional advice for our many clients.
Mr Hammond told the Lords’ committee that he plans to engage with business leaders and employee representatives before the Autumn Statement to hear their views. Let’s hope he listens!
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The date has been set. New Chancellor Philip Hammond will deliver his first Autumn Statement on Wednesday November 23. He…