This is the first of what will become an annual autumn Budget, and replaces the Spring Budget and the former Autumn Statement. It will now become the main announcement of tax and fiscal changes each year.
Of course, this year is slightly different. We’ve already had a Budget in March, and the Chancellor then announced that there would be another in November. But that was before the General Election was called. As a result of that, many of the Spring Budget proposals did not make the Finance Bill, which was truncated. It is expected that most, if not all of these proposals, will be reintroduced into the Finance (No 2) Bill 2017 and we can expect some other surprises.
We will be looking at some of the expected changes, and our “wish” list over the coming weeks. However, with rising inflation, a hike in interest rates now more than just a possibility, and pressure on public pay settlements, this promises to be interesting times.
Watch this space for more!
