Spring Statement 2018 snapshot

The Chancellor, Philip Hammond, presented the Spring Statement 2018 earlier today. Read on to find out what he said.

Although major tax and spending changes will now be announced once a year at the Budget in Autumn, Hammond’s first Spring Statement provided an update on the progress made since the Autumn Budget 2017.

Spring Statement 2018 key points snapshot:

• UK’s borrowing has dropped for the first time in 17 years
• The economy has grown for five consecutive years, exceeding expectation in 2017
• Plastic pollution is to be tackled through the tax system
• National Living Wage will rise to £7.83 from April 2018
• 60,000 first-time buyers benefitted from stamp duty changes announced in the last Budget

Read the detailed summary of everything covered in the Spring Statement 2018 on gov.uk or by clicking here.