The Chancellor has presented his first Spring Statement to Parliament.
The Spring Statement gives people and businesses certainty and stability to plan for the future. Major tax or spending changes will now be made once a year at the Budget in the Autumn.
The Spring Statement:
- gives an update on the overall health of the economy and the Office for Budget Responsibility (OBR) forecasts
- gives an update on progress made since Autumn Budget 2017
- invites people and businesses to give views on changes the government is considering