The Spring Statement

The Chancellor has been speaking about the timing of his next parliamentary set piece.

On Wednesday the Chancellor was interrogated by the Treasury Select Committee. Ostensibly the topic was “The UK’s economic relationship with the European Union”, but Mr Hammond took the opportunity to tell the committee that “The Spring Statement will be some time between the end of the February recess and the end of March”. That probably means no earlier than 26 February, as Parliament resumes work on 25 February after its mid-winter recess.

COMMENT

An early Spring Statement could mean that the next part of the Office of Tax Simplification (OTS) report on inheritance tax simplification (which is due to cover technical tax aspects) will arrive after the Chancellor’s set piece, as happened with the OTS’s earlier report on administrative aspects.