The new Autumn Budget

In the 2016 Autumn Statement, Chancellor Philip Hammond announced a major shake-up of the government’s Budget framework, which saw the scrapping of the Autumn Statement and the introduction of a new Autumn Budget.

Historically, the main annual Budget has generally taken place in the Spring, followed by an Autumn statement later in the year.

However, starting from Autumn 2017, the main annual Budget will now take place in the Autumn, and will be followed by a Spring Statement. The first Spring Statement will be delivered in Spring 2018.