The Chancellor of the Exchequer, Philip Hammond, has announced that the government will publish its next Autumn Budget on Monday 29 October 2018, leaving only four weeks for preparation
Hammond has finally released details on this year’s Budget date following weeks of speculation.
The Budget was originally expected in late November or early December, but the Chancellor has pushed forward his annual Budget to avoid Brexit discussions. There were concerns about whether Brexit talks and possible deals could effect any announcements in the Autumn Budget.
At the Autumn Statement in late December 2016, the Chancellor announced that the government were to move to a single major fiscal event each year, pointing out that the UK is the only major advanced economy to make major changes to the tax system twice a year. Therefore following the Spring Budget in 2017, the government moved to a single fiscal event in autumn.
Report by Amy Austin